When a married couple decides to part ways, one of the most significant decisions they will have to make is what to do with their home. There are pros and cons to selling and keeping the property, and our team at Rozin | Golinder Law can help you weigh your options. If you are struggling with this decision, read on for more information about the benefits of each option!
If you’re considering a divorce, property division is likely one of the first things on your mind. And rightfully so — if you own a home, this is likely one of your biggest assets to consider. But what should you do with it? Sell it and split the proceeds evenly or keep it and buy your ex out? There are benefits to both options and our team can help you figure out which is best for you.
If you decide to sell the property, you will have to split the proceeds with your ex. However, this option may be best if neither of you wants to live in the property after the divorce. Selling the home is also beneficial if the property needs significant repairs that neither of you can afford or if it is an investment you cannot maintain alone.
On the other hand, keeping the property may make more sense if you have children and want to maintain stability for them. This is a good option if one spouse cannot afford to buy the other out or if there is a significant amount of equity in the property.
As previously mentioned, deciding what to do with the marital home is a complex and challenging step in the divorce process. However, our experienced team of attorneys at Rozin | Golinder Law can help guide you through this decision.
To further discuss the property or debt division process with an attorney, call us at (732) 377-3367 or visit us online.
