The most contentious issue in many New Jersey divorces is the future of the marital home. New Jersey state law calls for an equitable division of all shared property, but exactly how this is achieved is generally left up to the couple and their attorneys.

The marital home is often a couple’s most valuable asset as well as their biggest shared liability. Additionally, one or both parties may have an emotional attachment to the family home, and there are economic factors to consider.

In general, divorcing couples have three options when it comes to the marital home: they can sell it and divide the equity; one spouse can keep the home and buy out the other; the couple can choose to sell the home, but put this off for a number of years due to the market or other factors.

The two second options involve many intricacies that must be sorted out in a divorce decree–such as by what date one spouse must buy the other out, and whose name should remain on the title, and who is responsible for home maintenance. It is wise for both parties to work with their attorneys to ensure that their interests are protected when it comes to these provisions.

Even when a couple decides to take the seemingly clear cut route of selling the home and splitting the proceeds, the process can be thorny. Will any repairs be made to the house before selling it, and who will pay for those? What selling price is acceptable? Who will live in the house until it is sold? Who will be the point of contact with the real estate agent?

These questions and more can be difficult for divorcing couples to answer. A recent news article says that some real estate professionals have carved out a niche market to represent divorcing sellers. According to The New York Times, several New Jersey real estate agents have found success representing sellers who do not get along with each other.

Should divorcing New Jersey couples choose to sell their marital home, it may be wise to find an agent who is well-versed in such sales. It is necessary, however, to first iron out the details of a marital property settlement with one’s divorce attorney to ensure that the sale of the home is the best option.

Source: New York Times, “After the Breakup, They Help Sell the House,” Elizabeth A. Harris, April 1, 2013