Advice from family attorney.
Robert Waligore is a family law attorney in Silicon Valley. Real Estate is often related with the purchase and sale of property related to marriage and divorce. Mr. Waligore provided common examples including title discussions, property interests, parties who want the property after a settlement. Properties are usually sold or a one party buys out the other party - in a divorce situation. He discusses disputes, property value, property sales timeline and price, and court room issues, etc.
He mentions a judge often requires an appraisal prior to the sale if one party is buying out another party and some appraisers typically work on these appraisals and are experienced testifying in court as expert witnesses. Sometimes each party obtains their own appraiser and/or agree upon one appraiser. Issues that may arise in a divorce situation buy-out, one party may not qualify to purchase the home on their own so this creates difficulties depending on the credit worthiness of individual parties. He discusses a recent case with a wife wanting to buy a husband out of multiple rental properties - litigation was pending in the condo complex which created challenges during the sales process.
Jette asked if their are special lenders willing to support the party trying to purchase, but in reality the facts are the spouse must qualify on their own to buy out the property. There are a number of issues including child support, and once the children turn a certain age - usually age 18, then the child support ends and they no longer qualify.
thank you Robert Waligore, Attorney, for joining us and offering free key advice to buyers and sellers related to family law issues.