Divorce the House Then the Spouse
http://tinyurl.com/c4habe Maryland Divorce Legal Crier posted January 27, 2009
A big mistake that a lot of people make in divorce is trying to keep the house according to an article by Lew Sichelman in the Chicago Tribune. http://tinyurl.com/957htd
Indeed in Maryland the court can grant use and possession of the family residence for up to three years from the date of divorce to the parent who gets custody of the minor children. In other words, keep the kids, keep the house.
But Kelly Lise Murray, lawyer and real estate agent in Nashville, says if you must keep the house, you should obtain an appraisal, a third-party inspection, a termite inspection, and a title search for hidden liens. Murray also says you should consider the true cost of home ownership, which may include things like lawn care, homeowner's association fees, replacement of appliances, maintenance and upkeep.
Murray says people tend to underestimate the "ghosts" that go along with keeping the house. The place is often so filled with memories, both good and bad, she says, that "it's not the family home anymore. It's a huge lodestone. If you're still linked through the house, then you're not really divorced."
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I agree...so many people fight for the house without realizing what that entails. If they would've sold it and divided the proceeds, they could've paid bills off or used the money to buy a less expensive home that wouldnt break the bank. I definately like the advice and although I am not an attorney have told clients that it may be better for them in the long run to just let the house go. :)