If you are like most people, your home is not only the most valuable asset you own, but it is also a source of deep emotional attachment. Deciding how to handle ownership of the marital home is often one of the hardest parts of the divorce process. There are many different ways to approach this issue.
If you are getting divorced, reach out to a skilled divorce lawyer for guidance. Your attorney can help you understand your rights, evaluate your property division options, and choose the course of action that is best for your unique situation.
Options For Ownership of the Family Home
A family home is typically considered a marital asset. This means that both spouses have a right to a share of the home's value. One option during divorce is to sell the home and divide the proceeds between you and your spouse. This can be a good choice if you do not want to continue living in the home after the divorce or if neither of you wants to buy out the other's share of the home. Some people choose to sell their home and use the proceeds to pay off joint debt. This ensures that both parties will start their new lives free from joint liabilities.
...