If you are going through a divorce, you might wonder exactly how much you are going to walk away from the marriage with. Will you be able to keep your house, or will you be forced to move? Life may feel full of questions right now.
There are many reasons why you may want to keep your house, and they are all valid. Are you unsure if you will keep the house post-divorce? This is what you need to know.
You Need to Consider What You Can Afford
First, you need to consider what you can afford. Many people love the home they shared with their former partner but realize they are unable to afford living in the home as the sole earner. As a result, you may realize you cannot stay in the home. You may decide with your former spouse that you will sell the home and split any money that you make.
You May Want the Children to Stay in the Home
Many parents want to ensure that their children do not have to move out of the family home. As a result, you may decide that you want to relinquish your home to your ex in exchange for a buyout.
A buyout will involve you collecting money, perhaps part of the home's value or what you put into the home. Each case is different, and your divorce lawyer will help you determine how much you should ask for in exchange for the home.
You May Remain Co-Owners
In some cases, two exes may agree to remain co-owners of the home. They may both live in the home or rent it to somebody else. This may not involve any financial transaction, but it is important that your attorney work with you to ensure you are not losing money on this kind of deal.
The Judge May Decide
Ultimately, whether or not you stay in the home may be a contentious issue. If you and your ex are not able to arrive at a decision, the judge may be put in the decision of making a call. This is where your attorney steps in and presents your case. Why should you get to keep the house?
Hire a Divorce Lawyer
Your divorce lawyer will represent you in court and ensure that you are in the best hands possible. They will make sure that you are able to argue fairly for yourself if you wish to keep the home in the divorce settlement. Make an appointment with a lawyer today to learn more.