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What do you do with the house in your upcoming divorce?

On Behalf of | Sep 12, 2022 | Property Division

One of the most stressful things about filing for divorce is how it affects your living circumstances. If you own a home with your spouse, deciding what happens with the house can be an emotional and difficult process. With the help of a skilled divorce attorney, you can negotiate who keeps the home or if it is sold and the proceeds are distributed between you and your ex-spouse.

Determine the current market value of the property

The price you originally paid for the home likely does not represent its current value. Even if you refinanced in the last few years, your home has likely gained value since then. The current real estate market is highly competitive, especially with the recent trends in urban migration fueled by remote workers. If you divorce in the near future, the chances are good that the value of your home will be much higher than it was the last time you checked it.

Property division issues can get very complicated in divorces

Before you make any decisions about how to approach your home in a divorce, you need to think realistically about whether you can afford the property on your own and whether you would like to stay in the house that you lived in with your spouse. Once you understand your wishes, you can start to strategize for your preferred outcome in the property division process