If you are not allowed to sublet and cannot help your landlord find a new tenant, find out the cost of the rental agreement and then share the bill. If you are concerned that your ex-spouse is not paying their share, ask the judge to apportion responsibility between the two of you as part of the divorce agreement. Your credit may still take a hit if your spouse does not pay, but you can go to court and try to force them to respect the verdict. However, depending on the amount of money involved, you should simply pay the full fee yourself in order to protect your credit note and avoid possible legal action by your former owner. It is not necessarily fair, but sometimes it is the simplest and most economical approach. A family lawyer with experience in the divorce process can help you prepare agreements for both the court and your landlord in the division of rental properties. Regardless of the judge`s decision to retain the lease, there are cases where a landlord is not obliged to respect it. For example, if you and your spouse are on a specific lease, a landlord may not be required to remove the name of the spouse who will no longer reside in the rental property. In such cases, you can discuss with your lawyer the development of a divorce clause in which the spouse who owns a leasehold property agrees to assume all financial obligations arising from the lease, even if both names remain on him. Whether you own or lease your principal residence, it is considered marital property and a court has the ability to share that quality in a way that the judge deems appropriate. This means that, depending on the circumstances of your individual circumstances, a judge may ultimately assign the rental property to either spouse, regardless of the name in which the lease may be located.
It is important to note that a judge cannot terminate a lease. This means that you must be prepared to comply with this lease in accordance with the terms of the divorce agreement if you divorce with a considerable amount of time remaining on a particular tenancy agreement. If you and your spouse are able to agree on who will keep the rented property, the process can be simpler and less confusing. It is also important to remember that, in most cases, it is likely that a spouse will have to keep the lease in order to avoid additional legal proceedings to determine liability for the costs of the leased property. No matter how well you or your tenants are doing with a divorce, it remains a difficult and tedious aspect to own a rental home. And if things aren`t going well, it`s even more important to have people by your side to help you deal with the legal and financial risks that come with it. That`s what property management has to offer. We have the experts you need to manage each situation efficiently and professionally, allowing you to control your time and total security. There are three common ways to deal with rental real estate during a divorce: Categories: Tags Tips: Landlord, Property Management Advice, Tenants, Divorce Tenants, Advice Our Family Lawyers Can Help You Deal with Other Divorce Issues You Might Face, such as Child Custody, Child Care and Joint Support. We help families in the Denver area and throughout Colorado manage the sometimes difficult path of divorce, so that everyone gets a fair result.
If you or your spouse do not want your leased property assessed, you must agree on the value; this is not recommended. It is highly recommended that you obtain professional assessments of all rental properties that you and your spouse own. While it is technically acceptable to agree on an arbitrary value, this path is likely to be taken.