In many divorces, the largest asset to deal with is the house you and your spouse shared. That makes it one of the toughest points to negotiate for either side, but knowing what your options are for settling this often-contentious part of the split can help you both choose the best course of action going forward.
While every divorce has different circumstances and complications, glance over this breakdown on different ways to determine who gets the house in a divorce.
Decide With Your Spouse
The easiest route to take by far is coming to an agreement with your spouse on what to do. Whether that’s allowing the spouse who will take primary care of your children stay, letting the person whose name the house is in keep living there, or deciding to sell it to relieve financial burdens, you’ll both be more satisfied with the outcome you choose for yourselves than the one a judge will choose for you.
Try to have a calm discussion about the factors that affect the decision and weigh your choices accordingly. But if you can’t keep the conversation on topic and no progress is being made toward a definite outcome, the court will have to make the choice.
Go To Court
Making a trip to the courthouse makes the process much more complicated. The best thing you can do for yourself if it comes to this is to get informed about the particular laws of your state that might affect how the judge will make the decision. That way you and your attorney can plan your case accordingly and ensure that you don’t accidentally violate the rights of your spouse during the proceedings.
Depending on your situation and the laws of where you live, the court could decide to allow the spouse who will take care of children to stay, sell the house and split the proceeds, or any number of scenarios.
Share the House
Many couples that divorce continue to own the house jointly for a number of reasons. They want to provide a stable environment for children until they reach adulthood, or neither spouse can afford to buy out the other.
Some couples even choose to live in the house together for a while until finances improve, the housing market spikes, or other living arrangements can be made.
Sell the House
Selling the house is a route that makes the most sense for many divorced couples. If neither person can afford to make mortgage payments on their own or buy out the other spouse selling is often the best thing to do.
The traditional process of selling a house is long, complicated, and involves more work on top of going through the process of a divorce. If a judge allows one or both parties to sell the house, a much faster, simpler option is to sell the house for cash. In just a few days, you can have money for your house that’s easily split between two people, allowing you to move on from your divorce and get on with your life as quickly as possible.