Dealing With The Quintessential Question – Which Partner Keeps The House After Divorce?
Divorces are ugly. The arguments, the accusations, and the legalities can often get too much to handle. And things become even more complicated if the couple shares children. The custody rights, the alimony, and the maintenance expenses – everything must be taken care of.
A particularly tricky aspect is the distribution of joint property. Most couples share assets like houses and cars, and when they separate, deciding who gets what can often leave lawyers frustrated. But it’s a necessary evil that must be tackled, and as such, getting it over with is the only solution.
Planning to keep the house? You must have solid reasons
A house is a critical financial asset. You can literally turn your life around with the money you get out of selling it. But keeping the financial aspect aside, the emotional attachment you’ve got with the house can make for a very good reason to keep it. Moreover, it might be a little too traumatizing for the children to watch their parents separate and also move to a new home, abandoning the abode they’ve been living in for several years. So when planning to get into a hustling mode, make sure you know why you want to hold on to your ex-home.
Keep local state laws in mind
If both partners fail to make a mutual decision, the judge may have to make the final call. Depending on the laws of the particular state the house is located in, the judge may decide whether one of the partners can keep the house or if it should be sold and the proceeds distributed equally.
It’s also important to note that even if you manage to get the ruling in your favor, the laws in many states don’t allow a partner to sell the house, even after divorce, without the other partner’s consent.
A word of caution – Ensure that the house doesn’t indebt you
Before you move heaven and hell to bag your ex-home, make sure you have enough income to sustain the house without your partner’s support. It’s advisable to consult a financial planner who can guide you on this and help you manage your finances.
The best solution – Mutual decision with your partner
Don’t they say the middle road is often the best one? When both partners get into a mutual discussion about who gets to keep the house, there’s less emotional stress, and both of you have at least some control over your destiny. If you’re on good terms with your partner and they’re cooperative enough, try discussing it with them at length.
To wrap it up
A couple getting a divorce goes through many different complications; deciding who gets to keep the house is just one of them. It’s better to consult a family judge in your state if you don’t agree with the spouse or a few matters.
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