You and your spouse finally agree that divorce is the best option for the two of you. Now, you have to come to an agreement on dividing the property you have accumulated throughout the years. You wonder, “Can I stay in the house?”
If you are considering asking for the house, think about whether you need a house this size; can you pay the mortgage, bills and utilities each month? You must decide if your income can pay all of these expenses.
Once this has been decided, an appraiser will have to determine the value. Being a community property state, you will have to split the equity with your soon-to-be ex-spouse. You owe him or her that money. Many issues can arise, including your ex-spouse putting a marital lien on the property. If you decide to stay in the house, you can refinance it to take cash out or obtain a new home equity loan.
If you are not sure whether to stay in the home, let your ex-spouse stay in the home, or sell it and neither stays in the home, contact The Law Office Of Amy M. Montes Family Law Attorney and ask what your options are. She can explain how divorce will affect your life in the future. The new accommodations you will need to have, and budgeting with your now single income. Walk you through every step of the way to help you transition to a new life, guiding you to ensure you know all your option, we are here to make this process much less stressful for you and your family.
