Going through a divorce in Texas will normally involve splitting up your assets. The courts generally try to be sure that divorce settlements are fair to both parties. One way to make this easier could be to suggest a deferred sale in order to split the proceeds from your home.
You can benefit from a temporary delay
Complex property division is one of the bugbears of the divorce process. This is all the more true when it comes to selling the home you lived in as a married couple. It may be in the best interests of both parties to defer the sale of the home for an agreed-upon period. Doing so may give you access to several benefits that will make a divorce much easier to bear.
A deferral of this type can allow one spouse to live in the home until they can find a new place to stay. However, if you come to this agreement, you will also have to handle other issues such as the home’s mortgage, property tax, and insurance payments.
A deferred sale can bring monetary benefits
Dividing up your assets in a fair and balanced manner may be one of the many challenges during the divorce process. However, if you are able to agree to a deferred sale, it can reward both parties in the long run.
The sale of a home can be deferred until the local real estate market is in optimal conditions for sellers. Both parties may also agree on certain renovations that will increase the value of the home. The sale can then bring in a higher profit for both parties.