Legal

The Family Home and Divorce: Who Keeps the House?

Divorce ImageIn most cases, a couple’s house is their most valuable asset. Aside from being valuable because of its monetary worth, it’s also valuable because of the sentimental value that one or both spouses attaches to it.

Who Gets to Stay in the House in the event of a Divorce?

There are times when couples have already reached an agreement on who gets to live in the family home before a divorce. For instance, one party might be more capable of maintaining the house or would be the custodial parent to their kids, which means that it’s better for them to remain living in the family home.

If the spouses can’t come to an agreement, however, family law attorneys in Denver, CO say that it’s up to the court to decide who gets the home or if the home should be sold. The court would order which spouse gets temporary possession during the temporary orders hearing and would decide on who gets to stay in the home during the permanent orders hearing.

If failed to reach a suitable agreement, it’s best to remain living in your home until the court sets a hearing date. In most cases, the spouse who’s currently residing in the family home during the hearing gets to live in it permanently, but not always.

What You Should Do

Before deciding if you want to stay in the family home or not, answer these crucial questions first:

  • It the cost to buy a similar house comparable to the mortgage on your family home?
  • Could you afford the home’s upkeep, considering that you won’t be sharing finances with your spouse?
  • Are you planning on staying in your home so that you children could still attend their current school?
  • Would it be easy for you to sell the home if necessary?
  • Could your refinance your home without monetary help from your spouse?

Ending a marriage is hard enough. Unfortunately, you’ll also need to deal with all the issues that come with it, like deciding on who gets the family home. With this in mind, consider consulting an experienced lawyer to figure out the best options for you, both on a temporary or more permanent basis.