The question of who gets the marital home in divorce is not an easy one to answer, as it depends on a variety of circumstances.
For one divorcing couple, it may be easy to decide what happens. But for the next, it could be one of the biggest sticks points in the divorce.
Here are some of the many things to think about:
- One person gets the home: For example, if you have physical custody of your children, you may want to stay in the family home to provide stability. If this happens, your ex-spouse will receive assets in exchange for the lost value of giving you the home.
- The person who purchased the home: If you purchased the home as a married couple, you both have legal right to it. Conversely, if one of you purchased the home before tying the knot, that person may be able to keep the home without giving the other individual anything in return.
- Sell the home and move on: If neither of you wants to remain in the home or you can’t decide who gets to stay, selling it and splitting the proceeds is often the best approach. This allows you to split the gains down the middle and avoid all the discussions associated with who stays and who goes.
While you have options available to you, deciding who gets the marital home in divorce is easier said than done.
Maybe you don’t have children together but both of you want to keep the home. Neither of you is willing to change your mind, which leads to a deadlock during mediation.
In this case, you need to keep an open mind and consider the steps you can take to reach a mutually beneficial decision. It’s tough to do, but it’s all part of the divorce process.
Even if you assume that you have a plan in place for dealing with your marital home, you should expect the unexpected. You never know what approach your soon to be ex-spouse will take, which could throw you for a curve.
You may not get exactly what you want in the end, but you must do whatever it takes to protect your legal rights.