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property division after final divorce

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nextwife

Senior Member
This is exactly why I keep writing to my legislators that certified tax analysts should be part of the divorce process. Too many attorneys and jusges either don't consider all of the implications and/or do not have the knowledge to consider the implications.
For SURE!!!!!

Example: I know someone who had little savings but owned about 20 scattered site, single family rentals. Government tenants, so the rental checks just came direct from the city or county, super easy management, all fully rented with long term tenants, all properties already in compliance with rent assistance requirements. In divorce, he offered her first pick of 8, then he'd pick two, then she'd pick two and they'd divide in half. But no, she wanted CASH, so her attorney was insisting they all be put on the market at once, sold and the cash divided. He kept explaining that the tenants would likely move out if placed on the market, and then they'd be stuck with all those units, all of their debt load and taxes, but minimal cash flow because many units could end up vacated. Not to mention the serious capital gains hit!

He wanted to list the ones SHE wanted sold and then sell progressively, keep his share without selling - ex and her attorney didn't understand why their plan was just a bad idea. She could have had almost effortless cash flow.
 


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