In New York, one of the mechanisms that a judge may employ to facilitate the equitable distribution of assets is the appointment of a receiver to sell the marital home. This decision typically made to ensure fairness and efficiency in the divorce process when the parties’ cannot agree as to who will buy the home, or whether or not it should be sold.
In some divorce cases, spouses may reach an impasse regarding the sale of the marital home. Disputes can arise over issues such as pricing, timing, or the terms of the sale. When negotiations stall and the parties are unable to come to a mutually acceptable agreement, a Judge may appoint a receiver to take charge of the sale. This is done to expedite the process and prevent further delays in the divorce proceedings. By appointing a receiver, the Judge empowers an impartial third party to oversee the sale process, ensuring that it moves forward despite any resistance from the parties involved.
In situations where the marital home represents a significant asset, it is crucial to preserve its value during the divorce process. Delaying the sale or allowing the property to fall into disrepair can result in financial losses for both parties. By appointing a receiver, the court aims to protect the value of the asset by ensuring that it is marketed and sold in a timely manner, thereby maximizing the proceeds to be divided between the spouses.