The marital home remains one of the biggest sources of contention during the divorce process in New York. Fortunately, couples going through divorce have a few options for addressing their family home. Here are some ways people getting divorced can address their home to both parties’ satisfaction.
Options for dealing with the marital home
One option when it comes to the marital home during a divorce is for the spouses to keep the house together after they break up. In this situation, they would co-own the home. This can be problematic if they cannot see eye to eye on what to do with the home — for instance, renting it out or taking turns living in it.
Another option is for one spouse to buy out the other party based on his or her financial situation. This is ideal if the spouse interested in buying the house can afford to do this and has young children. The children would be able to stay in the marital home, which may ease their transition to life after their parents’ divorce. The final option is to sell the house, which may require them to make small updates to the home to make it more marketable and maximize their proceeds from the sale.
How a divorce attorney can help
A family law attorney in New York can help an individual going through a divorce make an informed decision about the marital home and other essential divorce matters, such as debt division. Other areas an attorney can tackle include child support, spousal support and child custody. The attorney will seek the most personally favorable outcomes for his or her client while pushing for a just and comprehensive settlement.