Margaret Gettle Washburn, P.C.
(770) 676-1191
Habla español, por favor pregunte por la señorita Alex.

Deciding whether to keep or sell the marital home

When a Georgia couple is married, owning a home can be a dream. After a couple goes through a divorce, the same home that they worked hard to buy may end up feeling like a burden. Not only is it complicated to decide which person gets to stay in the marital home after a divorce, staying in the marital home can be a great challenge for a single person.

In one example, a divorcing woman in Tennessee had to decide whether to stay in the marital home after her divorce or sell the marital home and split the profit with her ex-spouse. After a marriage that lasted 37 years, the woman had the option to keep a home that was completely paid off. The woman's friends urged her to stay in the mortgage-free home, but the woman was unsure if she wanted to stay in a home that was much too big for her.

When the woman wrote to a financial planner, he warned her that keeping the large home could be a mistake. Though the woman's home would not come with a monthly mortgage payment, it would have high heating, cooling and maintenance expenses. The home was also older and in need of costly repairs. As a newly-single woman who was soon to retire, the woman was advised to cut her living expenses down to a minimum after her divorce.

An attorney may be able to advise a divorcing spouse about how to handle the marital home in a property division settlement. If a divorcing spouse has children that are still living at home, keeping the home may be beneficial. A divorcing spouse with no children or children that are grown may prefer to work out an agreement to sell the home and split the proceeds.

No Comments

Leave a comment
Comment Information

Tell us your story

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Review Us

Margaret Gettle Washburn, P.C.
4799 Sugarloaf Pkwy
Building J
Lawrenceville, GA 30044

Phone: 770-676-1191
Fax: 770-963-2828
Lawrenceville Law Office Map

facebook twitter Google Plus