Hi All,
My parents have investment properties through inheritance. They are shared with a parents sibling.
It appears the sibling will be getting a divorce.
My parents will probably seek legal advice over this, and the sibling certainly will, but I am hoping for some general advice/knowledge on this matter.
My parents are not in a situation where they can buy out the sibling share of the investments. Given that it is a join asset, is the ex entitled to their half of the investment, thus forcing my parents to either buy their half, or sell?
Is there anything they can do to prepare for this? Would it be better to sell before the divorce settlement? Is it likely there will be a 'fire sale' as a requirement of the divorce settlement, or will it end the same either way for them?
Also, will infidelity have any bearing on the outcome?
thanks in advance.
My parents have investment properties through inheritance. They are shared with a parents sibling.
It appears the sibling will be getting a divorce.
My parents will probably seek legal advice over this, and the sibling certainly will, but I am hoping for some general advice/knowledge on this matter.
My parents are not in a situation where they can buy out the sibling share of the investments. Given that it is a join asset, is the ex entitled to their half of the investment, thus forcing my parents to either buy their half, or sell?
Is there anything they can do to prepare for this? Would it be better to sell before the divorce settlement? Is it likely there will be a 'fire sale' as a requirement of the divorce settlement, or will it end the same either way for them?
Also, will infidelity have any bearing on the outcome?
thanks in advance.