As we have mentioned before on this blog, property division is one of the important issues that can arise in connection to a divorce. Recently, an article on the Longmont Times-Call's website reported on one method that some divorcing couples are using when it comes to property division.
The method in question is the divorce auction. In divorce auctions, divorcing couples put their property up for auction at auctions that are open to the public and then split the proceeds from the sale of the property (minus the amount paid to the organizers of the auction the property was sold in). Couples sometimes do this as an alternative to dividing the property up piece by piece between the two of them.
Reportedly, there are many reasons why a divorcing couple might use a divorce auction when it comes to their property including: that the judge in their divorce case ordered them to, that they have been unable to agree as to which pieces of property would go to who or that neither of them wants the property in question.
It appears that such auctions have been becoming increasingly popular. According to one auction company owner, divorce auctions have become a fairly common thing.
This trend of divorce auctions rising in popularity gives rise to some interesting questions. What causes are behind the increase in the popularity of divorce auctions? Will this increase in popularity continue in upcoming years? It will be interesting to see how these questions are ultimately answered.
Source: Longmont Times-Call, "Some divorcing couples auction everything off and divide the cash," Aimee Heckel, April 28, 2012