For many Del Mar families, real estate is their most valuable asset. Because the prices of the average family home are so high, many families must invest significant funds into real estate just to live in the area.
However, upon divorce, all community property must be divided equally by the court.
If the parties have no other assets as valuable as the family home, it must be sold and the proceeds divided.
Pre-Judgment: Prior to the final resolution of a divorce case, the court will generally avoid ordering the sale of community or separate assets. However, under Family Code §2108, at any time during the divorce proceeding, the court has the authority to order the liquidation of a community asset if necessary to avoid unreasonable market or investment risks. Divorce lawyers know that, in making this determination, the court will consider the nature, scope and extent of the community estate. California courts have held that judges may not order the sale of a community asset unless necessary to prevent the loss of that or another community asset. In some cases, the financial strain of divorce may cause the family residence to be lost to foreclosure. If equity remains in the home, it may be prudent to petition the court to order the sale of the residence so that it is not lost to foreclosure.
At the onset of a divorce proceeding, automatic temporary restraining orders take effect. These restraining orders are commonly referred to as “ATROS“. The ATROS prevent the parties from altering the status quo of the marriage during the dissolution proceeding. For Del Mar divorce attorneys, this means that if one party maintains health insurance for the family, he or she cannot cancel that insurance plan because a divorce has been initiated. The ATROS also restrain parties from selling assets before they are divided by the court. Thus, a party may not unilaterally sell a home during divorce without a court order as discussed above.
At Trial: At the end of the case, the court is not as restricted in its ability to order the sale of the home. If the parties only significant asset is the family home and an award of that asset cannot be offset by another, the only way to divide the community estate is to sell the home. Therefore, during a Del Mar divorce, it is well within the court’s authority to order the sale of a residence and to divide the proceeds equally between the parties.
Please contact us if you are thinking of meeting with a divorce lawyer. Whether you are considering a divorce from your spouse, a legal separation, or have questions regarding child custody and visitation, consulting with a knowledgeable attorney is of paramount importance. Nancy J. Bickford is the only lawyer in San Diego County representing clients in divorces, who is a Certified Family Law Specialist (CFLS) and who is actively licensed as a Certified Public Accountant (CPA). Don’t settle for less when determining your rights. Call 858-793-8884 in Del Mar, Carmel Valley, North County or San Diego.