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Dealing with the family home when a divorce occurs

If a South Carolina couple is considering divorce, they may be wondering what will happen to the family home. Because people often have an emotional connection to their home, especially if they built it themselves or raised their children there, it can be very difficult to make a rational decision that makes sense when post-divorce finances are taken into consideration.

The first decision that has to be made is whether or not a person wants to stay in the home. For example, if the home is comfortable place that provides emotional security and is close to work, a person may want to retain ownership of the home. If the home evokes unpleasant memories and a person wants to make a new start somewhere else, selling the home will be a priority.

If no one wants to stay in the home, they can both sell it and divide up the proceeds . If one person wants to stay in the home, they may be able to buy out the other person and refinance the mortgage. If they cannot refinance or pay the mortgage on their own, this option may not be in their best interest. Otherwise, both individuals can retain ownership of the home.

When people are considering keeping or selling their home during a divorce, a family law attorney may assist with walking them through how this decision would impact their finances once the divorce is finalized. The attorney may also assist with other property division disputes that often can turn contentious and difficult to resolve when emotions take over.

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133 Thomas Green Blvd, Suite 202

Aaron & Aaron
133 Thomas Green Blvd, Suite 202
Clemson, SC 29631

Phone: 864-501-9579
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