Should You Keep the Family Home in a Divorce?

One of the most important things in a divorce in Georgia is the division of assets. Whether they consist of physical property, like houses and vehicles, or money in bank accounts, the court tends to ensure that assets are evenly split. As a result, some soon-to-be former couples will find themselves wondering what they should do with the current family home. Is it better to keep it or sell it? And if they keep it, who lives there?
Thankfully, at Buckhead Family Law, we understand that there are a few things to consider when deciding the fate of your family home.
Arguments in Favor of Selling
Sometimes selling your family home is the best option. Why? Here are a few of the most common reasons why all of the marital assets end up being sold:
Selling Can Alleviate Any Emotional Attachments – If the divorce is particularly painful, staying in your old home afterwards, surrounded by memories of what was, can bring up difficult feelings.
It’s Easier to Divide Assets – Sometimes, splitting the proceeds gained during the marriage can be tough, especially when it’s mainly in physical assets. Selling the house and turning it into cash can make this process easier.
Conflict Can Be Avoided – When a divorce in Georgia includes you and your ex-husband arguing over assets and everything else, it makes sense to sell the property and split it evenly. This way, everything will be fair, and no one can complain about an uneven division of assets.
Reasons to Keep the House
In addition to the many reasons behind selling the house, there are some in favor of keeping it, like:
One Spouse Can Buy Out the Other – In situations where one spouse has a monetary advantage over the other, an agreement may be reached where cash is traded for ownership of the home.
The Real Estate Market is Slow – There are times where it just doesn’t make good financial sense to sell a home. In buyer’s markets, the prices are lower than they’d be if it were a seller’s market. Divorcing during a buyer’s market can result in obtaining a lower price for the home which doesn’t benefit either party.
The Kids are Comfortable – If the kids are uncomfortable with the idea of moving and switching school districts, it makes sense to find a way to keep them in the same house that they currently live in. This can make the divorce adjustment a little easier.
Need a Divorce Lawyer in Georgia to Help You With Dividing the Marital Assets?
Are you worried about securing your fair share of the marital proceeds during a divorce in Georgia? Do you think that your spouse might be hiding assets or trying to take more than they deserve? Are you having issues trying to determine a fair settlement between you and your ex-spouse? If so, then you need a good Georgia divorce lawyer.
At Buckhead Family Law, our legal team works diligently to meet the needs of clients getting divorced in today’s tech driven world – this means taking everything online into consideration. One thing that hasn’t changed about divorce? It is still one of the most harrowing experiences someone can go through, and we understand that. That is why we always treat our clients with grace and compassion.
Need help? We are here to assist you as you begin the next chapter of your life while ensuring that all of the loose ends are tied up in the least complicated way. Schedule a consultation today by calling 404.390.0000.