Making Sure the Law Is On Your Side

Divorces involving joint property are often hard to settle. For instance, many couples disagree on who gets to keep the marital house and, if it gets sold, how to divide the sale proceeds. Such arguments can delay negotiations, prolonging the divorce for several weeks or months. The best way to avoid a standoff is to consult a family law attorney for advice. Here are some of the recommendations your lawyer might suggest regarding your house.

One Party Keeps the House Temporarily or Permanently

Your attorney can suggest that you or your partner retain the house after dissolving the marriage. It can be a short-term or long-term agreement depending on the situation. For instance, retaining the house might be prudent if prevailing prices are too low. Then, you can sell it when the market price is favorable. Additionally, you can choose to retain the property until your children are old enough to inherit it. But whichever the case, you must agree on who keeps the home.

Additionally, you or your spouse can keep the house permanently. But in this case, whoever keeps the home should reimburse their partner the money they spent acquiring the property. Furthermore, their name should be struck out from the deed. That way, they won't have a legal right to the property. However, these processes require legal guidance. Thus, your lawyer will ensure that you take the right steps to prevent legal battles in the future.

Sell the Property and Share the Money

Over the years, you and your spouse have probably gained a sentimental attachment to your house. As such, it's challenging to convince each other to forfeit ownership. In such a case, your attorney can recommend selling the house and sharing the proceedings. Then, they will ensure you get the right percentage of the cash after the sale. But if you and your partner cannot share the proceeds, your lawyer will litigate the issue in court to get a determination. The judge will decide the payment each party should get depending on the circumstances and the state laws.

Your home is probably the most valuable asset. As such, deciding what to do with it might be the most contentious issue when ending your marriage. One way to prevent the issue from complicating your divorce negotiations is by consulting a family attorney. They may recommend the two options above or any other strategy to prevent disagreements or legal battles in the future.