When you decide to file for divorce, there should be no doubt in your mind that you will spend a good amount of time working through the property division process.
While you can’t expect to get everything you want, you should do whatever you can to obtain your fair share of property.
This leads to an important question: Which individual will get to keep the house?
This is never a simple question to answer, as there are many factors that come into play.
First and foremost, you need to take any children into consideration. If you have at least one child with the other person, the individual who receives physical custody may also be in position to keep the family house. This is often the best way to ensure stability for the child.
If there are no children, the process is not always as complicated. In this case, there is more than one way to move forward. For example, you may agree to sell the house and split the proceeds.
Another option is for one person to buy out the other. Of course, this only works if both people agree to this type of transaction.
There is no easy way of saying who will get the family house in a divorce, so you’ll want to know exactly what could happen along the way.
Although there is going to be a lot on your mind as you move forward with your divorce, you need to pay close attention to matters of property division. Knowing how the process works will help you make more informed decisions.
Source: FindLaw, “Divorce Property Division FAQ,” accessed Feb. 01, 2018