What will happen to your family house in divorce?

What will happen to your family house in divorce?

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You become so familiar with your family house that you never even want to entertain the idea of living anywhere else. But if you decide to divorce, you may soon come face to face with the realization that you need to find a new place to call home.

The fate of your family house in divorce depends on a variety of circumstances. Here are some common scenarios that could play out:

  • Do you have children? If the answer is yes, the parent with physical custody is in better position to keep the marital home, should they have the financial means of doing so. This makes it easier for your children to transition into their new life after divorce.
  • One person purchased the house with separate funds: For example, if you have no children and purchased your home before marrying your soon-to-be ex-spouse, you may be able to legally keep it and ask the other individual to vacate. This situation can become complex if the other individual assisted you with paying for the home during your marriage.
  • Neither of you want to stay in the home: It’s possible neither party has an attachment to the home. It’s also possible that neither of you want to take on the expenses associated with the property. This may lead you to sell the home and split the proceeds, thus making a clean break from the property without any complications.

If you’re going through the divorce process and have questions or concerns about who gets the family house, it’s critical to learn more about your legal rights in Colorado and potentially hire a divorce attorney who is located in Denver, Colorado.

For instance, it’s typically against the law for either individual to force the other to leave. In other words, you can’t lock the doors and hope that your ex never returns.

Since your family house is likely to be one of your biggest assets in divorce, it’s critical to understand the finer details of your situation. The more knowledge you have, the easier it is to make informed and confident decisions that will benefit you now and after your divorce is in the books.

You may not get exactly what you want when dividing assets in divorce, but that doesn’t mean you should sit back and let the process come to you. There are steps you can take to protect your rights.