Home is where the heart was; Divorce & the family home (Part 2)

Part one of this resource focused on whether or not one spouse had an interest in the property (even if their name was not on title) and what possible reimbursements either party was owed.

This blog is focused on different options you may have if you own a real property home at divorce. Keep in mind that if you and your ex DO NOT COME TO AN AGREEMENT, the likely result is that the house will be ordered SOLD by the court. If there’s no equity, usually the best option is short sale (as opposed to foreclosure) and unless you are both looking to get the house off of your shoulders — this is probably not a result you would want. Therefore it may be a good idea to negotiate a settlement — it won’t be perfect but it will limit the ‘damage’.

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