How a House Gets Split in a Divorce

Divorce is a complicated matter. When you’re married, it’s easy to avoid thinking about this process, as it’s probably not even on your mind. Sadly, you may find yourself in a situation where you have no choice but to consider the decision to divorce. It would be in your best interests to have some basic knowledge about your rights in these cases. 

You’ll soon have to make important decisions about the assets you once shared, like your house, which can make the situation even more difficult. This process is influenced by the circumstances that led to your divorce and your local laws. Talk to the lawyers at The Law Office of Laurence J. Brock to learn more about splitting assets like your house in a divorce.

Reaching an Agreement

The best way to approach this problem and solve it as quickly as possible is to reach an agreement. This process is referred to as uncontested divorce, which is the less expensive option. You may not have to go to trial if you choose this option. 

If this option is available, you’ll have the possibility of establishing the terms you prefer when the time to divide assets comes, including your house. Unfortunately, this scenario may not be an option for you. Working together isn’t always possible during a divorce. 

Selling the House

If neither spouse wants to keep living in the house, the entire process behind the division of assets becomes significantly easier. You’ll have the option to sell the house. To do so, you’ll have to consider any debts and taxes attached to the house, like a mortgage.

At that point, all you have to do is split the money obtained from this process. Be aware of the fact that this is not a risk-free choice, and you might find yourself facing unexpected costs before you’re able to successfully sell your property. 

Giving Up Alimony

Spousal support, more commonly referred to as alimony, is typically awarded to a lesser-earning spouse to make them keep the same quality of life they had while they were married. If that spouse decides to keep living in the house, things may change.

In this scenario, you may have the option to ask for an alimony reduction or to eliminate it in exchange. This will allow you to split the house in a convenient way that will significantly reduce your future expenses.

Buying Out Your Spouse

Another way of splitting a house during a divorce is by agreeing to a buyout. This is possible when one spouse wants to keep living in the home, so they pay the other for their share of the house in money or other assets. 

This option can be complicated to execute, especially when most individuals don’t possess the finances necessary to pay for a large portion of the house. Fortunately, many methods can make a buyout possible, like making payments over time. Your lawyer can help you negotiate the best possible option for you and your ex. 

Get Help From a Divorce Attorney

Divorce can end up being an emotional and stressful process, and taking the right steps forward while it takes place is often difficult. Speaking with an experienced divorce attorney gives you the possibility of letting a professional take care of the hard part while you focus on healing. 

The Law Office of Laurence J. Brock will make sure that your assets are divided fairly and your house is split in the most convenient way for your finances and your wellbeing. Call 909-466-7661 or fill out our online contact form to get the help you need by speaking with our lawyers.