When a California couple goes through a divorce, they must address all marital property, and this often includes the house. Deciding what to do with the family home in a divorce can be a complex and emotionally-challenging process. It’s normal to want to remain in the home, but it’s prudent to think carefully about the long-term implications before trying to keep this asset.
One option for dealing with the family home is to sell the house and share the proceeds of the sale. This allows both spouses to have money they may need to find a new place to live or perhaps pay off any debt they may have. It’s important to get a fair price for the home, refusing lowball offers simply to be done with the process as soon as possible. It’s for the benefit of both spouses to get as much money out of the sale as possible.
If a spouse wants to keep the home, he or she should think carefully about the potential implications of this choice. It can be expensive to maintain a home, pay a mortgage, take care of taxes and address repair needs on one income. Keeping the home may not make sense long-term, even if it is something a spouse really wants in the moment.
When considering whether to keep the family home in a divorce or sell, it may help to discuss this with an experienced family law attorney. Property division is a complex process, and each choice has immediate and long-term implications. It’s prudent to take steps to avoid decisions that could be costly down the road.
