- Joined
- Mar 17, 2011
- Messages
- 133
A friend of mine is getting a divorce and asked me what I thought about dividing the assets, I had no idea so I thought I would ask on here.
His scenario is that he has 3 properties, each worth roughly $325000 with very little equity in any of them. They are all located in Alberta (Edmonton area).
If they sell them all there will likely be a loss by the time the mortgage penalties and lawyer fees get paid etc. The loss will likely be about $30k total.
Is it easier to just transfer one of the names off the title and the other spouse to keep going assuming they qualify for financing? Or does it make more sense to just take the shared loss and move on and start over.
Since this is a topic that maybe too personal for some, please feel free to email responses to me at [email protected]
Thanks
His scenario is that he has 3 properties, each worth roughly $325000 with very little equity in any of them. They are all located in Alberta (Edmonton area).
If they sell them all there will likely be a loss by the time the mortgage penalties and lawyer fees get paid etc. The loss will likely be about $30k total.
Is it easier to just transfer one of the names off the title and the other spouse to keep going assuming they qualify for financing? Or does it make more sense to just take the shared loss and move on and start over.
Since this is a topic that maybe too personal for some, please feel free to email responses to me at [email protected]
Thanks