How does rental property division work during a divorce and normally what are the options?
2 attorney answers
The period you were living together prior to the marriage can be considered by the Court in divorce and property whether or not acquired during the marriage is still subject to the Court's division in Massachusetts . Sounds like a potential buyout situation if you can qualify for a mortgage or there are other assets you have available to do so. Counsel can be very helpful in putting together a Separation Agreement or proposal for settlement- and certainly can be helpful toward advancing your position before the Court and trial if needed.
You could remain partners in the property, but I am not a big fan of divorced couples continuing to be in business together. usually leads to issues down the road. Negotiating a fair buy out price, within the context of your overall asset/debt division, will be needed if you want to hold onto it.
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