Dealing with property division is one of the most stressful aspects of ending a marriage. The process takes time and generally leaves at least one party somewhat dissatisfied with the final property settlement.
Selling high-value assets like your primary residence and other properties ahead of filing could reduce the hardships known to plague the property division process. However, there could be legal consequences if you or liquidate assets before divorcing.
If you have yet to initiate your Houston divorce, you can do whatever you like with your assets because they still belong to you both. If you have already started your divorce proceedings, it is unwise to begin selling off shared property.
What are the benefits of selling property before divorcing?
One of the most overlooked benefits is that selling ahead of divorce can make the property division process a bit easier. Three benefits to consider include the following:
- Most people feel that it is typically easier to divide cash than to divide your property.
- By eliminating as much property as possible, you can reduce anxiety when the property division stage of your divorce begins.
- Often, couples find it easier to make a clean break by liquidating assets ahead of the divorce.
It’s important not to sell off any of your shared marital property if your spouse has not given consent or agreement. If you do, it might come back to haunt you when you initiate divorce proceedings. It is also a good idea to learn about Texas property division laws as you work through the division of your marital assets.