The Personal Property Dilemma in Divorce Cases
I’m seeing an uptick in challenges regarding personal property when both parties are in the process of a divorce. I wanted to shed light on these issues so that delays and potential contract breaches can be prevented.
When the parties need to sell their house during the divorce process, the property must be empty of all belongings before the closing date. While that is rather obvious, this issue is frequently forgotten about until we’re down to the wire and can result in breach of contract.
Here’s the dilemma: The clock starts ticking as soon as the property is under contract, and in today’s market, that could mean just days after it’s listed. All personal property in the house must be removed prior to the closing which is usually within 30-45 days; at this point, it’s a contractual obligation — and those 30-45 days go by fast.
I highly recommend the division and disbursement of property is decided before the house is listed, especially in a high-conflict case. This can also help with thinning out a cluttered home.
All of “the personal stuff” has to be moved anyway, so handling it before the home is listed on the market is almost always a better approach.
Please find below a few ideas:
● His and Hers PODS parked in the driveway. They can each load up their own and have it taken for storage, to be summoned later at their new place.
● If no agreement is reached, then one POD or storage facility can be secured for all unclaimed belongings to go until further division or orders are made.
● 1-800-GOT JUNK! If all else fails, hiring a junk removal company or donating to a non-profit organization can help get rid of the rest of the “stuff.”
Of course, divorce situtation is different, and while I focus on the real property side, I’m always happy to offer suggestions for how to disburse personal property under challenging circumstances.
If you or someone that you know has real estate questions or wishes to discuss how I can help, please contact Shannon Lindstrom, Realtor with RE/MAX Results and a MN Certified Divorce Real Estate Expert (CDRE®) serving the Twin Cities/MN at 612-616-9714 or visit www.ShannonLindstromRealtor.com today.
Shannon Lindstrom, Realtor®, CDRE®, CREDS, CRS, GREEN, MILRES, MRP, VCA
RE/MAX Results
7373 Kirkwood Court No, Ste. 300
Maple Grove, MN 55369
Direct: 612-616-9714
Lindstrom_S@msn.com
Shannon@ShannonLindstromRealtor.com
www.ShannonLindstromRealtor.com
www.ShannonLindstrom.info
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www.MNDivorceRealEstateExpert.com