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What should you do with the house in a divorce?

On Behalf of | May 26, 2022 | Division Of Assets

A home is an asset. That is the bottom line to keep in mind when divorcing. Despite any emotional attachment you and your spouse may have to it, it is still just an asset. So losing it in the divorce is not the massive deal that some people think, provided you receive compensation in other ways.

Despite this, many couples focus too much energy on trying to keep the house when they divorce. Allowing their emotions to get in the way can prolong the divorce process and increase the bitterness towards each other.

Why might selling be the best option?

While it might initially seem childish to say, “If I can’t have it, then you can’t have it either,” it makes more sense than you think.

If you both want the house, the one that does not get it may carry that grudge for years.  Or they may use the fact that you keep the house as leverage to get more than their fair share in other areas of the divorce settlement.

Selling clarifies the price

Let’s say your spouse gets the house. Within a year, its value has shot up. How would you feel then? The same would happen in reverse if you kept it. Selling and putting the proceeds into the communal pot to divide draws a line under it once and for all.

Selling helps you start over

You might love your house, but do you really want Ron from next door leaning over the fence telling you how much better your garden was when your husband looked after it. Or Joan from across the road commenting that the woman she saw leaving in the morning reminds her of your ex-wife?

There are occasions when keeping the home can be the best choice. Finding out more about all your property division options can help you make the correct choice.