Going Through a Divorce: What to do with my Home?
When going through a divorce, one question to address is: What to do with the family home? Will one of the spouses stay in the home? Will they sell the home and split the proceeds? Hiring an experienced Orlando real estate attorney can help spouses navigate this difficult decision.
What are the options?
Option #1 Both spouses own the family home and they will have to decide if one of them will keep it or if they will sell it.
Option #2 One spouse decides to keep the home and that spouse needs to buy out the other spouses’ share of the property. This may be advantageous if children are involved and the custodial parent would like to keep the home so that they won’t need to change schools or adjust to a new home.
Option #3 Decide to sell a home, There are a few factors that should be considered:
- What is the current state of the housing market?
- How will the proceeds be divided?
- Who will pay the fees associated with selling the home?
Option #4 Agree to a deferred sale. A deferred sale is when both spouses stay on the home loan, but only one spouse remains living in the home. The home will then be sold at a later date after which the proceeds of the sale will be divided.
How can a real estate attorney help?
Navigating Orlando real estate law can be challenging if one doesn’t possess the proper knowledge. Nishad Khan P.L. are experienced real estate lawyers in Orlando and will help complete all the necessary paperwork when selling a home and will take care of all legal real estate issues that may arise during the transaction.
Entrusting the highly skilled team at Nishad Khan P.L. will ensure that the sale of the family home is done efficiently, leaving one less thing to worry about during the divorce process.