A divorce in Carlsbad is a stressful time full of big decisions. One such decision is what to do with the marital home. Some people want to get rid of their home and have a clean break. Others feel a strong emotional bond to their home and can’t imagine leaving it. Even for those who have a clear preference on what to do with the house, matters are often complicated by minor children who may need to stay in the home.
If you’re experiencing a divorce in Carlsbad and have to decide what to do with your marital home, we’ve assembled the below information to give you options and guidance on your potential choices. No one choice is right for everyone – whether you choose to keep the house or sell it, you have to make the decision that is right for you and your family.
3 Options: Your House’s Future After Divorce in Carlsbad
When selling your home during a divorce in Carlsbad, you have three options:
- Sell your home and divide the proceeds
- Stay in the home, buying out your spouse
- Keep the home as co-owners
Each option has its own pros and cons that will influence which choice is right for you.
1. Sell Your Home and Divide the Proceeds
One housing option during a divorce in Carlsbad is for both parties to sell the home together and then divide the proceeds. This route can help parties pay for moving and new living arrangements, as well as cover some of the costs associated with the divorce. It also gives both parties a fresh start and the chance to start over in a new house.
2. Stay in the Home, Buying Out Your Spouse
Another way is for one spouse to buy out the other and transfer ownership. Note that the amount of the buyout may be more or less than half, depending on the state in which you are divorce, the existence of prenuptial or postnuptial agreements, and any terms of your divorce agreement.
Taking over sole ownership of your home isn’t always easy. Before going this route, carefully consider whether you can afford to keep the home on just your income.
3. Keep the Home as Co-Owners
This is the best option when either one party can’t afford to buy the other out or if it is the parents’ desire to keep any children living in the home.
For this arrangement to work, it’s important to get all the details settled and in writing. From who will pay what to when payments will be made will help keep the arrangement going smoothly.
Sell Your Home During a Divorce in Carlsbad With Your Home Sold Guaranteed Realty - The Pabst Group
If you’re experiencing a divorce in Carlsbad, we know that the stress of deciding what to do with your home can be overwhelming. Let us help you make the transition easier – simply call us at (760) 463-0099, contact us here or fill out the form below.