Friday, October 26, 2012

How To Deal With The Marital Home In A Divorce

Since I began this week with a joke about how to deal with a marital home in a divorce, I thought that maybe this next post should focus on some real, practical tips for you to discuss about this topic with your own Georgia divorce lawyer.

First of all, this discussion assumes that we are referring to marital property; that is, a home acquired during the marriage and not as a result of an inheritance by one of the parties in the divorce.

Second, here are a couple of practical tips to consider: If the marital home is in both names, but one of you wants to keep it, then it is important that you consider how to get it out of the other party's name. In other words, it generally would be unfair, if one party is going to keep the home, for the other party to have their credit tied up over the next 20 or so years until the mortgage is paid off. Therefore, you should discuss with your divorce attorney the idea of including in a settlement agreement, (or arguing before a judge), a provision requiring the party who is keeping the house to refinance, (and get the mortgage/property out of the other side's name), within a specified period of time. Also, while that party is refinancing, they may also be able to borrow money to cover the other party's share of any equity, if that is appropriate. Finally, you should also discuss with your own divorce lawyer the idea that, if the other party does not, or cannot, refinance within the specified time, then the house probably must be listed and sold.

Again, every divorce is different. So, please discuss all these issues about equitable division of marital property with your own divorce lawyer.

I hope this post gave you some good practical information and tips! But I think we will both agree that it wasn't as funny as the divorce "joke of the day!" Have a nice weekend!


  1. It's a very interesting discussion. I am really very happy to become a part of this article. But every person who is divorcing they should confirm about this because if he wants, then he can wipe you out by financially, emotionally, physically mentally, etc.

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  2. My friend just went through a divorce and I helped her find the best divorce attorney that she could. It's really important to find someone that can work with you and wants to help you through the whole process...which isn't a fun one. We loved this attorney so much that we found some great gifts for lawyers and gave her a few to show our appreciation for her help!