What happens to the house upon divorce?

At the time of purchase, no couple thinks about divorce and its consequences. However, life often takes unexpected and difficult paths, which can become complicated, especially in the case of jointly purchased and financed property. If divorce is inevitable, you should work together to find an adequate solution for your home. There are various options that you can use depending on the prerequisites and your own wishes.

Divorce – sell the house or keep it?

If you have not concluded a prenuptial agreement, according to the law, the property belongs to you in equal shares. This means that an agreement is inevitable. If you want to stay in your house, you face the challenge of having to pay off the other spouse who is moving out. If this is not possible without a house sale, many couples are left with selling the property.

In terms of divorce, there is no blanket recommendation for your home, as each tip is based on the individual situation and your personal vision. In general, you should rule out the need for a foreclosure, as you will lose a lot of money that way.

If a sale of the house is essential, hire an agent and get the highest possible price for your property according to the market value. If there is a possibility, one partner can keep the property and pay out the other partner. You will find your individual chances and the best solution together with an experienced real estate agent in the course of your divorce.

Get advice from real estate agents!

We strongly discourage you from jumping the gun and making what you feel is the right decision out of disappointment. There are a whole range of other options through which you can rule out selling the house, or if a sale is desired, get the best price for your property. You should not decide on selling, leaving the house to joint children, or holding the property until you have received comprehensive information on the various procedures. Contact real estate agents who have years of experience in dealing with homes that need to be financially divided among partners and valued as joint property in the course of a divorce.

More information about divorce:

Divorce procedure

Among all joint acquisitions, the house stands as the largest asset in your possession. For this reason alone, a jointly acquired property purchased during the marriage period will also be the biggest “bone of contention” when it comes to property division during the divorce process. Learn everything you need to know about the divorce process.

Keep house

For families with children, housekeeping is often high on the agenda in the event of a divorce. In many cases, the partner with whom the children remain stays in the house. So that the children can remain in their familiar environment and are not additionally burdened by the divorce, this option proves to be the best solution. However, the desire to keep the house is of course linked to the respective financial situation and to agreements made. More on the subject of keeping a house.

House sale

A jointly occupied and financed house is usually the focus of a divorce. If neither partner wants or is able to keep the house, in most cases it comes down to a property sale. There are several solutions you can consider and contrast. Most divorcing couples choose to sell the house to a third party, as this method results in the fewest disputes. You part with existing debts together and exclude the need to continue paying off a home loan together. All about selling your house.

Separation and house

Separating from your partner is a trauma. To ensure that the decision about your jointly purchased and financed home does not become traumatic, you should definitely opt for professional advice on the various possible solutions. Do you want to keep your home despite separation and pay off your former partner? Or are you interested in selling and would like to achieve realistic proceeds on disposal? More information on the topic of separation and house.