Family-owned homes are fertile ground for conflicts and disputes during the property division stage of a Florida divorce. In many cases, each spouse wants to keep and live in the home after the divorce. Other times, one spouse wants to sell the house while the other wants to keep it.
It is natural to feel hesitant about giving up the house where you raised your kids and made memories. However, it could be in your best interests to sell the family home ahead of your divorce.
Can selling the house make divorce easier?
It may not make your entire divorce any smoother emotionally, but it could simplify the process of splitting your marital property. The following section contains six reasons to consider selling the family home ahead of your Ormond Beach divorce:
- You cannot afford your mortgage payments alone.
- You might not be able to keep up with maintenance on the home by yourself.
- You do not have enough money to buy out your spouse’s share of the property.
- You can divide the responsibilities and costs of selling the home with your spouse.
- You and your spouse owe more on the home than it is worth.
- You need the funds you acquire through selling the property.
Instead of fighting with your spouse over the home, take a realistic look at your current circumstances and your future. If holding on to your house will result in significant hardships, it is probably wiser to sell the home before entering divorce proceedings.
Studying the state’s property division laws and procedures can also help you make the best decision about what to do with your home.