Going through a divorce is difficult for a number of reasons. One detail that is sure to be discussed is who will get the house. This is one of the most important and expensive considerations during the divorce process.
First things first, are children involved? If so, the custodial spouse almost always receives the house. This is not always the case, but it usually holds true. Of course, just because you are becoming the custodial spouse does not mean that you want to hold onto the home. In some cases, you will be better moving on and dealing with housing as a separate issue.
Generally speaking, there are two options to consider. The home can be sold and the proceeds split evenly between you and your ex. Or you can buy out your ex so you can stay in the home. Before you jump the gun and decide to buy out your ex, you need to consider what this will bring to your life. For instance, can you afford to pay the mortgage and upkeep on one salary? If not, buying the home should not be a consideration. Even if you have children, you must do what is best from a financial point of view. There is no point in staying in a home that you cannot comfortably afford. This is only going to lead to more issues during an already difficult time.
Keep things as friendly as possible with your ex as to make the divorce process simple. While it is important to keep your children in mind (if you have any) you must also look at the other pros and cons involved with the property. Coming to a mutual agreement with your ex will make the entire divorce process, as well as deciding who will get the house, much less stressful. For more information on marital property division in Michigan or to speak to a Michigan divorce attorney please contact me for a Free consultation.
If you are going through tough times, you may want to bookmark my Michigan Divorce Blog. It is constantly updated with relevant information regarding divorce, child custody, and spousal support.
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