When it comes to divorce, one of the biggest questions is who will get the family home. The best Tampa divorce lawyer can help you with difficult decisions and ensure that everyone involved receives fair treatment.
Here are five things to consider when determining who gets the family home in a divorce:
1. Home’s Value
If the house is worth a lot of money, it could trigger debate over who walks away from the divorce as the owner. However, if the family home doesn’t have much value it might not be worth the hassle.
How does the value of the home affect your situation?
The higher the home’s value, the more likely it is that the court will award it to the higher-earning spouse.
The lower the home’s value, the more likely it is that the court will award it to the spouse who has primary custody of the children.
If the value of the home is equal to or less than the amount of debt on the home, the court may award it to whichever spouse can assume responsibility for the debt.
2. Equity in the Home
If one spouse has been putting a lot of money into the home while the other hasn’t, that could affect who gets to keep it in the divorce. However, every situation is different and the court considers non-monetary contributions to the marriage when making decisions.
Don’t assume you’ll automatically get the house because you’ve been the main person paying the mortgage.
3. Ability to Pay the Mortgage and Afford Home Expenses
If one spouse can’t afford the mortgage or taxes on the home, it may not be feasible for them to keep it. In this case, it might be necessary to take spousal support into account. The spouse not living at the family home might be ordered to pay the mortgage, while the non-paying spouse still lives there. This is more common when children are involved.
4. Custody Arrangement
If one spouse has primary custody of the children, they may want to keep the house so the kids can have stability. The goal is to make the transition from a married to a divorced family as easy as possible for the children. Courts often decide homeownership based on what’s in the best interest of the children.
5. Emotional Attachment to the Home
If one spouse is particularly attached to the home, they may be more likely to fight for it in court. This might not have much legal standing, but it can play a role in the ultimate decision. If you are not concerned about the family home, you and your attorney could still use it as a bargaining chip when negotiating a divorce settlement.
No one answer is right for everyone in every situation, so it’s important to weigh these factors when deciding who gets the house in a divorce. Talk to an experienced divorce attorney to get more information about your specific situation.
If you’d like to discuss your specific situation or you want to know more about how the court divides assets when a couple cannot agree, contact the best Tampa divorce lawyer at Geller Family Law at (813) 405-1509.
