Dividing Home Equity During a Nevada Divorce

Posted by on Oct 29, 2014 in Divorce | 0 comments

House on top of money pileThis is the final post in my series on how Nevada Family Courts deal with the issue of a marital residence during the divorce process. I covered a number of topics in this series. Issues I looked at included:

As each of these discussions showed, the law on these topics can be more complex than many people realize. I will close out this series by stressing that it is important to contact an attorney if you are going through a divorce and a residence is involved.

One reading my prior discussions may think that the issue of a home and its mortgage is straightforward. There are, however, numerous other issues that become disputed during a divorce. These issues include what value should be placed on the home, whether money used to pay the mortgage was actually community property, whether one spouse has deeded away their interest in the home, and whether a prenuptial agreement spells out any issues relating to the residence. Each of these issues can be complex and, in my opinion, it is a mistake to not hire an attorney to deal with them.

Disputes over the value of a home are common. Parties will often disagree over the methods used by an appraiser or who should be performing the appraisal in the first place. Arguments over residence valuation can impact a variety of other issues such as community property division or spousal support. Issues such as deeding away one’s interest, or a prenuptial agreement, may at first glance seem to resolve the issue of who gets the home. Quite often, however, the validity of deeds and pre-marital arrangements can be challenged and such a challenge can alter the outcome of your case.

If you find yourself in a situation where your residence and/or mortgage are complicating your divorce then you need legal representation. Contact a Las Vegas, Nevada divorce attorney today.

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