Divorce and Real Estate Laws In South Carolina: What You Need To Know

If you are facing the possibility of divorce in South Carolina, it is important that you have a basic understanding of how the laws will impact you. To best protect yourself, you need to know how the division of assets, child custody, child support and alimony, and other critical issues will be handled by the court before you start the process. South Carolina’s marital property laws are similar to that of the majority of the states. They also adopt equitable distribution laws.

Spouses in South Carolina have a right to all marital property. Marital property is all the properties you acquired during the marriage till the date of filing for divorce. It doesn’t matter if the family home you bought during the marriage is only under your name; your partner also has a right to it. If you find it difficult working with your spouse during the process, the court will take over the process.

That said, we have come up with this article to enlighten you on divorce and real estate laws in South Carolina. Let’s explore more.

Selling Your House After A Divorce

After your divorce, you may decide to sell your house. It is OK and understandable. Nobody likes to get attached to a property that would bring in many bad memories for them. However, there is something worthy of note. The court can only decide to share properties you acquired during the marriage. These properties are called the marital properties, and in this case, it belongs to you and your partner.

When going through the court process, you will be required to state your marital property, and non-marital property before the sharing process starts. All marital properties will be shared in a fair and equitable manner, but not necessarily 50/50 between you and your partner. For non-marital properties, they belong to the real owner that purchased them.

Factors to Consider When Dividing Marital Property

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The Real Owner Of The Property

The first thing to consider when dividing marital property is the real owner of the property. If one person bought the property for the family, there is a higher chance that the court will give the property to that person. If there are various contributions made to purchase the property, the court will share the property based on the contribution.
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Age And Health Status

Another major factor that determines how to divide the real estate property is the age and health of the spouse. If you or your spouse is older, suffers from ailments, there is always a high chance that the court will favor them more when sharing their properties.
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The Earning Power And Financial Conditions

In some cases, one spouse may have given up a career to stay home with kids, thereby diminishing their earning potential or the ability to land a well-paying job once the marriage ends. The court will consider this a worthy contribution that should be compensated heavily with a paycheck or other valuable things.

Selling Your House after Dividing the Property

Weddings can be an exciting moment. Going through a divorce or separation is not so exciting and can be financially and emotionally draining. In fact, divorces can be particularly difficult when you are trying to divide your marital property. It is not always easy to determine who owns the property.

To prevent bad memories, it is advisable that you sell the house given to you during the divorce and get another one. In fact, this is the best thing you can do if you value your mental health. However, many people are often afraid to do this because of the stress involved in getting the process done. Of course, selling your house requires time and patience. You will have to go through different buyer’s offers before you finally decide. With this, it could take weeks and even months if you do not know what to do.

To make life easier, you should sell to us at Sell Your House Fast- GSAP. We buy houses Spartanburg SC, and will make home buying a seamless and easy task for you. We understand what you are going through and won’t stress you any further. We will buy your houses in as-is condition. You don’t have to spend a dime on clean up and repairs. There are no inspection or commission fees. Our simple process gets cash in your hands quickly.

Feel free to schedule an appointment with us. We excitedly anticipate your call.

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