Some marital properties from a divorce are more valuable to you if you sell them instead of deciding which one of you gets to keep them. In a divorce sale or auction, you can convert properties that neither of you wants into money, which you split as part of your division of property. You do not have to organize your divorce sale together with your spouse, but he or she must approve the sale of any marital properties. You must plan ahead for your divorce sale to ensure that you will receive full value for your properties.
Advantages
You will have different needs as a single adult than when you were married. Some properties will be impractical to keep as part of your new lifestyle. For other properties, their monetary value is more useful than the enjoyment you get from them. Selling these properties may be to your advantage because:
- Unlike the property itself, you can equitably divide the money from selling the property;
- You may need the money to support yourself after your divorce;
- Money from a divorce sale can help pay off marital debts; and
- You can save on the cost of keeping and maintaining the property.
A Successful Sale
Once you have identified marital properties that you want to sell, you must research and plan before selling the items. You can cheat yourself and your spouse by selling these properties for less than they are worth. Here are three keys to a successful divorce sale: