Questions concerning homeownership, whether the division of assets in a sale or who gets to keep the home, are challenging and often fraught with emotion.
Going through a divorce is a complicated process for various reasons. If you need to sell your home during your divorce, this may complicate things even further.
Questions concerning homeownership, whether the division of assets in a sale or who gets to keep the home, are challenging and often fraught with emotion. At The Betz Law Firm, we understand the challenges families face when divorcing. We aim to help you through this difficult time with as little stress as possible.
For many divorcing couples, their home is their greatest asset. Due to legal, financial, or personal reasons, it sometimes makes more sense to sell the house. If this is your situation, we can help ease some stress by answering common questions about selling your home during your divorce.
Who gets the house in a divorce?
When a divorcing couple owns a home together, property disputes generally play out in one of three ways:
- One of the spouses buys the other out and keeps the house.
- One spouse keeps and occupies the home for a specific amount of time, often until the youngest child turns 18, at which point the house is sold.
- The house is immediately sold, and the equity is split between the two spouses.
What is the easiest way to sell your home during a divorce?
The most straightforward way to sell your home during a divorce is with a stipulation that becomes a court order. A stipulation is a written and signed agreement between you and your soon-to-be ex-spouse that determines essential details about the selling of the house, such as the following:
- How to set the sale price
- If necessary, how to reduce the sale price
- Selection of the real estate professional
- Who communicates with the real estate agent
- Whether both parties need to approve the offers formally
- Which party will ensure the house is ready for walk-thru
- Whose share of the sold home will pay any liens or encumbrances
Work with a lawyer or mediator for assistance in coming up with a stipulation. It is the best way to sell your home during a divorce, as it satisfies both parties and does not lead to further litigation.
Consider Divorce Mediation
Mediation is an alternative dispute resolution method that people can use instead of going to court in front of a judge. Disputes about selling your home can more easily be resolved through mediation. This process utilizes a third party, a mediator, to help you agree on matters relating to your divorce.
At The Betz Law Firm, we are experienced divorce and family law attorneys. However, our principal partner, David Betz, is also experienced in resolving cases through mediation. As a firm, we are committed to guiding our clients through the divorce process with the same level of professionalism that we would wish for our family members.
Speak With an Experienced Attorney
Our firm uses experience, good communication, and availability to help families get through life changing events.