Selling duplex in divorce

[Jacqueline Kreitel]

My husband and I are divorcing. We are selling one of our duplex’s and splitting the equity. What is the beat way to go about beginning this process? What is the sellers market like? Any advice or warnings that I should keep in mind during this process?

[Mike S.]

You would pay less in taxes if he took a HELOC out, used it to write you a check for your half, and then you allowed him to keep the property rented or 1031 exchange into a new property at his convenience. If your name is on it together with his, you could Quit Claim deed it to him after you had your money, so he is sure no debtors could come after him for your interest.