Division of Property

[vinny63]

What is the name of your state? Indiana.

How is the property divided if there is a business (a corporation) being operated on it and the home is also located there? The husband actually runs the business, and since it is farm-related, it would be difficult for him to relocate the business. Can they have the property appraised and then the husband buy the wife out of her half so that he can keep the business intact?

[BelizeBreeze]

Either party may have the property intoto appraised and then make a buyout offer based on the appraisal value or, if the other party is not amenable to such, file a Partition for Sale which would require the sale of the property with a split of the resulting funds.

[vinny63]

So, it doesn't really matter that there is a business being ran there, and the husband has more need to retain the property than the wife would? It''s just considered the main home, even though it includes barns, pastures, and equipment pertaining to his business? Does either party have any more leeway or rights depending on how the divorce is filed? In Indiana, is irreconcible differences ok for grounds for divorce? They have just basically grown apart.

[BelizeBreeze]

EVERYTHING, without further facts to the contrary, is marital assets.

so do you think it's time to see an attorney who can review the facts and all documents relating to the divorce?

[HomeGuru]

Me thinks it's time.

[BelizeBreeze]

Originally Posted by HomeGuru

Me thinks it's time.

then we have a quorum. Next order of business???