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What happens to the house in a simple divorce?

On Behalf of | Jan 3, 2023 | Divorce

The division of marital property is often a highly contentious phase of any divorce process, especially when real estate is on the table. It might be a more amicable process if you and your spouse choose to undergo an uncontested divorce, but the fate of the family home remains a point of concern.

By understanding the processes that determine what happens to a home in a divorce, you and your spouse can arrive at the best decision for your unique property division situation.

When you and your spouse mediate on property division

If you and your soon-to-be ex-spouse are undergoing a simple and uncontested divorce, it is likely that you are willing to mediate or negotiate on matters of property division. You can arrive at a compromise on who keeps the house by determining the property’s value and equitably assigning assets of equal value to the other individual. You might also use a Deed of Trust to Secure Assumption, which states that one spouse grants their share of the home to the other and that the deed holder assumes all mortgage obligations.

When a judge determines property division

In the absence of a prenuptial agreement or mediated separation agreement, a judge will make the final decision regarding the division of marital assets in a divorce. The judge might consider factors such as child custody, income disparity and each spouse’s health when determining who will keep the home.

A contentious divorce can be a lengthy and burdensome affair during which there might be significant uncertainty about the future. In a simple divorce, you and your spouse can work together to quickly reach a fair and amicable compromise on matters from child custody to who will keep the family home.