Transferring possession of actual property or different property whereas a divorce is pending, however previous to a finalized settlement or courtroom order, includes particular authorized and monetary issues. Such actions can embody a whole sale to a 3rd get together, switch to 1 partner, or different types of disposition. As an illustration, a pair may contemplate promoting a jointly-owned dwelling to divide the proceeds in the course of the divorce course of.
The timing of asset division in relation to divorce proceedings holds important weight. It might probably affect the general monetary end result for each events, affecting parts comparable to spousal help, youngster help, and the equitable distribution of all marital property. Traditionally, legal guidelines governing marital property and its division upon divorce have developed to make sure a fairer course of, making an allowance for the contributions of every partner in the course of the marriage.