When you are going through a divorce you are already dealing with enough difficult situations. The last thing you really want to worry about is the Decatur house.
The reality is that there are many different ways that people can feel about their Decatur house during a divorce. They may really want to keep it, really want to sell it, or not care the first thing about what happens to it.
So, here are a few things that you should know as you work through the process.
When both you and your ex agree on what happens with the Decatur house then this makes it the easiest situation. However, that doesn’t necessarily mean it’s an easy situation.
First, you need to make sure that you can afford the house on your own. And if you don’t have the cash, you’ll need to be able to get approved for a loan without your ex’s name on it.
With this, there are two options that you can consider here. The first is that you decide to refinance the property without your ex’s name on the loan but leaving his or her name on the deed. This can make the process easier at the moment, but you could run into a difficult situation down the road. For example, if you are trying to sell the Decatur house in the future your ex could make the transaction a lot harder than it needs to be.
Another option is for you to buy your spouse out of the house. You could find the appraised value of the house and then provide your spouse with his or her half of what the profit would be if you sold the Decatur house. When you buy the house, you will be able to have the deed to the property in your name.
If you are going to leave your ex’s name on the deed you want to make sure that you have a legal agreement in place, so you won’t run into issues in the future.
One of the easier options for dealing with real estate during a divorce is to put the house on the market and sell it. This can sound easy, but it can be complicated to find a buyer and then have both of you agree on the offer. There are times when divorcing couples are selling a house not because it’s the agreement they both came to but because the court demanded that they do it.
This is a newer practice but can make the divorce easier on the children. You would continue to own the house while also having separate places to live. When it’s your time with your children you would stay at the house and your ex would stay at their other location. Then, when it’s their turn to have custody you would go to your other living space and they would stay at the house.
By doing this your children are never bounced back and forth between two homes. This is usually more of a temporary situation until you are able to help your children adjust to the divorce, at which time you can decide together to sell the house or buy one party out of their portion.
The easiest way to deal with handling real estate when going through a divorce is to work together with your ex on deciding what you will do. However, this isn’t always possible in the midst of a divorce so you will want to make sure that your attorney is included each step of the way.