Insofar as the spouse who takes over the property does not refinance the mortgage, both spouses remain obliged to pay the debt. The divorce decision cannot end your financial commitment to your creditor. For example, Bob and Amy share their wealth, as shown in Table 1 (below). Real estate includes your marital home and all other homes, vacation properties, timeshares and rentals – commercial and residential properties – as well as all commercial real estate. Real estate should be listed and the transaction agreement should relate to how it is distributed….