Even when a couple has an amiable divorce and has just decided they want to go their separate ways without any lingering animosity toward each other, divorce can still be a difficult and draining process for both of the parties involved. One of the biggest problems that couples face when going through a divorce is what to do with the family home. Often times it is far better for the couple to decide what to do with the family home together before it becomes an issue in court and both people involved lose a lot of their control over what happens to this property.
There are generally three options that couples can take in order to decide what will happen to their family home during or after their divorce. These options are as follows:
- Selling the Family Home—Sometimes neither spouse can afford to keep the family home when they will be losing one of their incomes because of the divorce, even if one of the spouses wishes to keep it. By selling the family home, you can divide up the property equally or by which spouse put the most into the home (not just financially but also with maintenance and other such things.)
- One of the Spouses Can Choose to Pay the Other Spouse or “Buy Them Out”–If the family home was bought with both spouses incomes or both spouses have their names on the deed of the home and one of the spouses wants to keep the home, they can choose to pay their spouse what they would be owed on their part of the property.
- The Couple Can Choose to Keep the Home—Both of the spouses involved in the divorce can choose to continue to live together and co-own the home as roommates or cohabitants rather than as a couple. This way both of the people get to keep their home and maintain their residence.
If, however, you are trying to sell your home without giving your spouse any of the profit gained by the selling of your home, you would first have to contact your attorney to see if you have the legal right to do so, the same if you wish to keep your home but kick your spouse out of it. In certain circumstances you may have the legal right to do this, such as if your spouse’s name isn’t on the deed to the house and they haven’t contributed either financially or otherwise to the property. Before you decide on any such rash action, however, you should consult with your attorney to see what your options regarding your home are.
For more information about property division in a divorce, consult with an attorney or visit montesfamilylaw.com.
Works Cited
Ricasa, Ted. “Divorce Home Options: The Path to a Fresh Start.” Divorce Home Options. Fast
Home Help, 2016. Web. 09 Mar. 2016.
