Selling after a long marriage

Find the old paperwork

The longer you've owned a house, the more the old papers matter, and the harder they are to find. Look for the closing statement from when you bought, any refinance papers, and receipts for major work like a roof, an addition or a new septic system. Your CPA will want them.

If the deed itself is missing, the county has it. In Lane County, Deeds and Records is at 125 East 8th Avenue in Eugene, 541-682-3654. Make a copy for each of you.

Outside Lane County, the county clerk's recording office keeps deeds: Linn's is in Albany, Benton's in Corvallis and Douglas's in Roseburg. Scan everything once, and send the same folder to both of you and both attorneys. If you've refinanced over the years, include those papers too.

How title is held

Under ORS 93.180, a deed to spouses creates a tenancy by the entirety unless it says otherwise. Your deed may say something else, especially if it's been changed over the years. Names matter here. Read it together, or have your attorneys read it.

Either way, everyone on title signs the deed when the house sells. If a name on title has changed or a past owner is still listed, tell me early so the title company has time to sort it out. If the deed was signed long ago and a name has changed since, bring proof of the change to the title company early so it doesn't hold up closing.

The tax question to ask early

A house owned for decades may have gained more than the exclusion covers. IRS Publication 523 allows a seller to exclude up to $250,000 of gain on a main home, or up to $500,000 for a married couple filing jointly, if they meet the ownership and use tests. Whether you sell while still married or after the judgment can change which limit applies.

This is a question for your CPA before you list, not after. Ask about both dates. Bring the paperwork from the first section. If one of you keeps the house instead, IRS Publication 504 says the one who receives it takes over the other's tax basis.

Years of belongings

A house lived in for a long time holds a lot. Dividing it is personal, and it isn't my call, but I can help with the practical side: a timeline for clearing rooms that fits the listing date, and names of estate-sale companies, movers and donation pickups if you want them.

Start with what neither of you wants. That list moves fastest, and it clears space for the harder decisions. The guide to dividing the contents and moving out has a room-by-room method that keeps both of you in the loop.

If you can't agree on a particular item, set it aside in one room or a storage unit and leave it for your attorneys, rather than letting one disputed piece of furniture hold up the listing for the whole house. Photograph each room before anything moves, and share the photos with each other.

Selling on your own timeline

A house held for a long time can be a large share of what the two of you own, so the timing of the sale may affect the rest of your settlement. Talk with your attorneys about whether to sell before or after the judgment, and with your CPA about how each date changes the tax picture. Don't let anyone hurry you.

I'll work to whatever date the two of you and your attorneys settle on, and send you both the same updates along the way. If your plans change, tell me and I'll tell your spouse the same day, or we'll go through your attorneys if you prefer. If one of you would rather keep the house, the buyout page explains the refinance and tax facts.

Prepare or sell as is

Some long-held houses are in great shape; others need work. I'll walk through and give you both the same honest list, then show you what I think the house would sell for as is and with the repairs. You decide together whether the work is worth it. It's your call, together.

Sometimes it isn't. The answer on staging or selling as is lays out the tradeoffs.

A house owned for many years may also have a furnace, a roof or plumbing that's older than either of you remembers, and a buyer's inspector will look at those closely, so I'd rather we know their condition before a buyer does.