If you’re facing a divorce, you have probably put quite a bit of thought into division of assets, including the question of whether to keep the marital home.
So, what does keeping the family home entail? Usually, it means negotiating with your ex or fighting for the home in court. While you may feel you want the home, be realistic about whether you can afford it on your own and whether it’s worth the fight in court or at the negotiating table.
The cost of a home is more than the mortgage alone; it includes taxes and maintenance as well. Nowadays, many couples get by on two incomes, so the loss of your ex’s income can have a strong impact on your financial situation. You may also end up having to handle court costs and possibly spousal or child support as well, so be sure to take these monetary changes into consideration.
Unusual Strategy for Keeping The Family Home
Some former couples are using unusual strategies to hold onto their homes after divorce, the most common one being to continue living in the home together, with some adjustments.
For example, the ex-husband may take one floor or side of the home while the ex-wife takes the other. They each have separate entrances and locks and live their own lives while both contributing to the cost and upkeep of the home. This way the children don’t have to be uprooted and neither party has to be burdened with the cost of moving.
This arrangement can be difficult and is definitely not for everyone, so most couples will seek more traditional paths to handling the marital home post-divorce. Whatever you think you may want to do regarding your home, you can benefit from the guidance and representation of a Texas family law attorney.
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