WE ARE AVAILABLE to meet clients and prospective clients by telephone and video conferencing, using either Zoom or Facetime. We are also available in person, whatever works best for you! We will continue to assist you in any way we can. Please do not hesitate to call our office and let us know how we can help.
Thompson Family Law, P.A.
Toll Free: 888-550-6071
Local: 239-243-9297

3 questions when dealing with a house in divorce

One of the biggest assets -- and liabilities -- that a couple might have together is a home. If you are going through a divorce, then who will keep the home -- or whether anyone will keep the home -- is an important consideration. Every situation is unique, but these three questions are a good place to start when making such a decision.

First, is it realistic for either person to keep the home? It's tempting to demand the house in a divorce for many reasons. If one person is going to have primary custody of children, then keeping the kids in the home they know might seem like the best plan. To do so, however, you have to be able to realistically afford the home. Ask yourself: Can you afford to pay the mortgage and keep up the home?

Second, will a bank refinance the mortgage for either person? If the mortgage is in both of your names, then it's unlikely you'll want to continue long-term with that arrangement. If one person wants to take over the mortgage, then they have to be able to refinance under their name alone. In a tightening lending market, this isn't always feasible.

Third, could you trade for the home? If the home is already paid off or there are enough assets in the marriage property to pay it off, then one person might be willing to make a trade in order to keep the home. This might involve giving up some other asset or buying out the other spouse.

If keeping the home is a goal for you, then consider speaking with a divorce lawyer about property division options. Yes, it can be a challenge to make numbers work in some cases, but many times, it is possible for one part of a divorcing family to remain in the home.

Source: The Huffington Post, "Keeping The House After Divorce," Kathleen B. Connell, accessed June 09, 2016

No Comments

Leave a comment
Comment Information

How Can We Help You

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Thompson Family Law, P.A.
3949 Evans Avenue, Suite 206
Fort Myers, FL 33901

Toll Free: 888-550-6071
Phone: 239-243-9297
Fax: 239-936-2542
Map & Directions