Livonia Real Estate Division Lawyers

Attorneys for Dividing Real Estate in Michigan Divorce Cases

When you and your spouse choose to divorce, there is a seemingly endless list of things to consider and address. It is perfectly understandable that you might feel confused and overwhelmed as you navigate the process. This is especially true if you and your spouse have accumulated a significant amount of assets during your marriage. Such assets may include real estate holdings, complex investments, and business interests, all of which must be accounted for during the division of assets. At Elkouri Heath PLC, our attorneys can help you simplify the proceedings and ensure that your best interests are protected.

Wayne County Divorce Counsel for Managing the Marital Home

One of the more challenging decisions you will likely face is the future of your marital home. While many couples are able to reach an agreement that allows one spouse to remain in the home—especially if children are involved—an equitable division of marital assets may require the home to be sold and the proceeds distributed between the parties.

We understand that, in many cases, a marital home represents more than just a piece of real property; it also has sentimental value. Our team will work with you in negotiating a plan to keep your home whenever possible and appropriate. If selling the home is necessary, we will also provide the guidance you need in doing so while remaining aware of the potential tax consequences of the transaction.

Dividing Real Estate Holdings in Macomb

According to Michigan law, the name on the deed to a particular real property is much less important in a divorce than when and how the property was acquired. If the property was purchased with marital assets during the marriage, the property will likely be considered part of the marital estate and subject to division, regardless of whose name is on the title. Conversely, if the property was acquired with distinctly non-marital funds or prior to the marriage, the property will likely be considered separate property and not subject to division.

Accounting for real estate during a divorce requires each property to be properly valued. This often requires the assistance of outside professionals such as real estate appraisers or brokers. At Elkouri Heath PLC, we maintain a network of qualified experts who can help simplify even the most complex cases. Once all of the real estate holdings have been evaluated, they can then be included in the asset division process.

While it is possible to maintain joint ownership of a property with your ex-spouse after a divorce, such arrangements are not always preferable. We can facilitate buy-out agreements and structured settlements that offer financial advantages to both parties in most cases. If an agreement or a settlement cannot be reached amicably, our experienced attorneys are prepared to take your matter into the courtroom as well.

Call Our Novi, Michigan Office Today

Attorneys Susan Elkouri and Symantha Heath have been serving clients in southeast Michigan for more than 20 years and are ready to put that experience to work for you. Contact our office to learn more or to schedule a free consultation. Call 248-344-9700 today. We represent clients in Novi, Livonia, Farmington Hills, Northville, Livingston, Macomb, Canton, Wayne County, Oakland County, and the surrounding areas.