Portland/Beaverton Divorce Mediation: Real Property Division
Real Property in an Oregon Divorce Property Settlement: The Short Version
Real property means real estate -- land and any fixed structures on it. Primary residences, vacation homes, income-producing rental properties, commercial properties, vacant land, and even some timeshares are real property. All real property that you own individually or with your spouse must be addressed in your Portland divorce mediation, even if you already agree on who will own the property post-divorce.
The main options are a simple list:
The main options are a simple list:
- The real property is listed for sale.
- One party keeps the property; the other gets an offsetting asset.
- You continue joint ownership; the property is rented out for income.
- You continue joint ownership; one party continues to occupy the property as a residence.
Discovery for Real Property in Oregon Divorce Mediation
Matthew will ask you to provide this information for your real property at the beginning of mediation:
- The deed, to confirm the original purchase price, the owner(s), the purchase date, the type of tenancy, and any other encumbrances
- The most current mortgage statement, to show the secured creditor, the amount of the liability, the type of loan, and the interest rate