If you own a house, you likely cannot imagine living anywhere else. After all, it is “home” — you have raised your children there, and you have countless memories that will last a lifetime. The problem is that your spouse feels the same way. So you can imagine how complicated things can get when deciding who gets to keep the family house after a divorce.
Here is the big piece to remember: Texas is a community property state. This means all property acquired by either spouse during the marriage — including the house — is considered equal ownership.
You have just as much right to it as your spouse, so the Court will have to look for a fair and just way to divide everything.
But how do you fairly split a house?
Obviously, the Court is not going to take a giant chainsaw and split the house in half. But there are a few factors they look at when determining who gets to remain in the home, who has to leave, or if another amicable decision can be made.
While not an exhaustive list, here are a handful of questions a Court might investigate:
- Is the house truly community property or separate?
- Which party is financially able to assume house payments?
- Are there children involved, and who has custody?
- Who is at fault for the divorce (adultery, abandonment, abuse, etc.)?
- Does one spouse have “ownership interest” even if they are not on the deed?
Can my spouse and I work this out between us?
Of course. In an ideal situation, you and your spouse can work together to decide who gets to keep the family house after a divorce. This gives both of you complete control over the process. The key is to understand all of your options:
- You keep the house.
- Your spouse keeps the house.
- You buy your spouse out.
- Your spouse buys you out.
- You agree to sell the home and split the proceeds.
- You both maintain ownership for a while and then sell it.
The bottom line is that you can either reach an agreement with your spouse, or a court will decide the matter for you. If you can work it out between yourselves, you will save a lot of money, time, and aggravation.
Call Nelson Law Group today!!
If divorce is the answer, you need a trusted advisor to guide you through each stage of your divorce and help you deal with the stress that naturally comes with that. We work diligently to achieve a result that ensures you receive what you are entitled to as you move forward onto the next stage of your life. The Nelson Law Group brings nearly two decades of experience in family law to each and every case.
Give our knowledgeable staff here at Nelson Law Group, PC, a call if you have any further questions regarding this or any other issue. Our staff is always available. Give us a call today! For more information about Brett A Nelson, click here.
Source: Nelson Law Group