Divorcing And Own A Home? What To Remember
After marriage, the natural next step for couples is often to purchase a home together. Being homeowners is an excellent idea; the problem really only arises when the couple is faced with a divorce. Owning a home together in the midst of a divorce can introduce a number of challenges that must be carefully considered.
Home Ownership Doesn't Change
If both you and your partners' names are on the deed, you are both legal owners. Oftentimes, confusion arises during a separation when one party decides to move out into another home.
It doesn't matter if your spouse moves out, doesn't contribute financially to the upkeep of the home and has even taken steps to purchase another home – the court will still view them as an owner. For this reason, you will be required to consult with your spouse before taking any legal action, whether it's putting the home on the market or even trying to modify the mortgage.
Sometimes It's Smarter To Stay Put
Separation and divorce are emotionally trying times. With so much sadness, anger and other strong emotions, people often want to get as far away from each other as they can. Don't move too hastily and make a decision you will later regret.
When you voluntarily move out of the home, the court may assume that you're also walking away from the property. In this case, it's hard to explain to a judge that you're attached to the property and feel like you should be awarded it when you basically abandoned it. Of course, if your safety is at risk this is a different circumstance, but simply leaving just because may be frowned upon.
Always Get Permission
Your spouse is giving you a hard time at every turn. You want to sell the property and split the profits 50/50, but your spouse disagrees. If this weren't enough, they moved out months ago and haven't paid a single cent towards the mortgage since. You can just sell, right? While it would seem your spouse should have no say-so, this isn't the case.
If you attempt to sell on your own, you could end up losing the home and even your share of the profits. Before putting the home on the market, always petition the court for permission. Let the court sort through these discrepancies to ensure you're protected.
Always speak with your attorney before doing anything with your property. An attorney like Begley Carlin & Mandio LLP can analyze your situation to help you determine the best course of action.
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