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WHO GETS THE HOUSE IN A DIVORCE?

Divorce is rarely easy and comes with many difficult decisions, one of the most important of which is what to do about the house. You may be wondering “What am I entitled to in a divorce?” and making sure you get an equitable deal on your home often requires outside support.home sold guaranteed

Here we’ll walk through what to know when you buy a house during a divorce, what to consider about your home loan, and what it means for your taxes.

How to Avoid costly housing mistakes during and after a divorce. 

Once you know how a divorce affects your home, mortgage, and taxes, other more emotional decisions are easier. Most people involved in a divorce find it helpful to get support from an objective third party like a realtor; this person can help make sure you’re making logical financial decisions, rather than emotional ones.

Things to consider about buying a house during divorce

One of the big questions that comes up during these times is “If I get a divorce, who gets the house?” And there are a few different ways to answer this question; here are two possible options:

1. Sell the house and split the proceeds

One divorce house split option is to divide the proceeds from the sale of your home. This may be a good option for you if you want a fresh start, and want to buy a house during divorce with no memories attached.

It’s important to note if you take this option, the split may not be exactly 50/50. The amount you can get will depend on your divorce settlement and any applicable legislation in your area. But during divorce where the house is in both names, this may be a good option for you.

2. Buy your spouse out

Another option to buy your house during divorce is for one partner to buy their spouse out of the home. This can be a good option if you want some stability or if it’s important for one partner to stay in the same home.

If you bought the house with two incomes, it may be difficult for one person to refinance the loan on one income, so make sure you’ve done all the math and are sure you can afford the mortgage payment for this option before moving forward.

How to Get the House in a Divorce

These are just two of the options you can take during divorce; you can also decide to co-own the home or rent the property out. But regardless of which route you take, calm and open communication throughout the process are key.

Many couples find it helpful to hire a third party to help facilitate this communication and make sure that both parties get the best deal possible. If you’re thinking about selling or buying a house during divorce, consider hiring realtors to help you get set up for your next home.

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Watch the video below for more information on how to get the house in a divorce

Learn more about divorce house splits

Download this free report on how divorce can impact the sale of your home to make sure you have all the information you need to get the best deal.

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"DIVORCE AND YOUR HOME"

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