Most of the time, the most important goal here is the house, because it is the most valuable asset in a divorce. In addition to the fact that it's the most expensive tangible asset a couple could have, it's also the essence of family and letting go can be very emotional, especially when you have children. A big reason to keep the house is to provide stability for your children. They are always innocent victims of divorce, unable to control their destinies until they are older, but they are still intimately affected by the failures of you and your spouse as husband and wife.
During a divorce, there is often quite a bit of controversy about the marital home. The family home is sometimes the most valuable asset in a divorce. In addition to the purely financial aspects of the household, leaving or selling the family residence can be very emotional, especially when children are involved. When the court grants a divorce, the property will be divided equally (not always equally) between the two spouses.
This is decided under the Equal Distribution Act. During the divorce, both spouses must inform the court of their income and any debts they have. The marital home is most commonly considered an asset that is divided equally in divorce. Aside from situations where one spouse pays for the home before marriage and keeps it afterwards, specific marital circumstances, including children and finances, generally dictate the fate of the couple's home.
The reason for allowing one parent to continue to reside in the previous conjugal home with the children is multifaceted. Judges often consider this agreement to promote the stability of children who have just experienced the difficulty and trauma of their parents' divorce. Another common concern is whether the primary parent has the financial means to obtain a new home for the children if the marital home is sold. In some situations, judges give one parent a period of use and enjoyment of the home, which can be for several months or years, after the divorce to ensure that the children have a roof over their heads, at least until the parent can regain their financial position.
You have to ask yourself how much those memories are worth, and you can keep them alive, even if you don't live in the house anymore. During divorce, finances are often very tight, where before there was a household with two incomes or one income plus a full-time person who cared for the house and children, now there are two households, two sets of insurance premiums, and an increased need for child care, not to mention legal fees. In the context of paying for the old marital home, one spouse will often struggle to pay for the operating and maintenance costs of a property that was originally supposed to cover the housing needs of the entire family. As you might guess, unraveling ownership and intention, as well as balancing the home as an asset with other assets in marriage, can quickly become tricky.
The flip side of this is that this house can also be the site of many difficult moments when your marriage was falling apart. If the house was in the name of both spouses, or in the name of another spouse (your husband, for example), you may want to refinance the house so that your name only appears on the deed and mortgage. In some cases, the non-custodial parent may even be ordered to pay the costs of the house as a component of child support. Also, keep in mind that property values fluctuate, so don't assume that you can sell your home for the amount you need if money becomes an issue.
The laws in your particular state will control how a judge will decide who keeps the house after a divorce. If the domestic spouse wants to stay in the house, perhaps to continue raising children, then, if the couple agrees, both parties can still own the home and decide to sell it at a later date. As a parent, you can do your part by not fighting over the house (or any other marital problem) in front of them. A spouse with children will have a preference to stay in the house until an agreement is reached, but not always.
Each state has several laws in place with a list of factors that judges should consider or exclude when deciding on a house. The cleanest thing is to sell the house, divide the profits according to the details of your divorce, and move on. In some cases, to avoid a fight, a spouse may agree to give up their interest in the home in exchange for a greater interest in another significant asset. .
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