The Family Home and Divorce

The Family Home and Divorce

If you are like the majority of people facing divorce, your family home is probably one of your largest assets. While each couple divides this asset in a way that works for their unique situation, there is some general information you should be aware of when it comes to your property.

Beware of the status quo

When the home is community property, both parties have a legal right to occupy the home. Before you make any decisions about the home, such as who will remain in the home, and who will move out, you will want to talk with your attorney. Any type of move, even if it is just temporary, may set a status quo that could be difficult to change in the future.

Talk to your bank

You will want to know your options even before filing for divorce with regard to the home. There are specific rules mortgage lenders have when it comes to making a loan during a divorce or separation. If you have plans to refinance or to purchase another home you may need to discuss the timing of those events carefully with your bank and your attorney before moving forward.

Keep or Sell

The decision to keep or sell the family home often depends upon the parties’ financial situation, emotional needs and rental options within their community. You will need to seriously consider your future financial position and all options available to you. Parties may choose to sell when avenues to compensate the leaving spouse for their community property share are limited. The court may also order parties to keep or sell the home.

There is a lot to consider in planning an effective property transition when it comes to divorce. Having an experienced divorce lawyer can make all the difference to your process. Because we focus solely on family law, we understand the dynamics and can help guide you through your divorce. Please contact Elise Buie Family Law Group, PLLC for a consultation regarding your divorce. 

STAY UP TO DATE

Subscribe to our newsletters

 
Subscribe to one or more of our newsletters, delivering meaningful insight on topics that matter to you and your family.
ebl home subscribe image

FURTHER READING

Latest Blog Posts

A Seattle family law attorney can help if you find you are in a situation where your ex is abusing your pet.

If you are an unmarried couple, a Seattle family law attorney can help you protect your partner through the use of wills and trusts.

A Seattle family law attorney can guide you with next steps should you discover that your spouse has been unfaithful.

An estate planning attorney can help you draft a will or designate some of your property as non-probate assets by creating various trusts.

Not sweating the small stuff is even more important during separation than it is at other times to have an amicable divorce.

Many people delay estate planning because facing sickness and death can be uncomfortable. However, preparation is necessary to have your wishes honored as you intend. With this in mind, consider the following suggestions to stay focused on these estate planning goals.

The thought of how to approach your partner for a divorce can be stressful, even if you believe they will take the news "well.” The upside is there are ways to communicate your intentions that can minimize the uncomfortable feelings you are experiencing while helping to make the conversation go more smoothly.

Probate in Washington state is relatively straightforward, especially with the guidance of a Seattle estate planning attorney at your side. Here is what you need to know.

Unsure where to begin gathering the foundation you need to go through the divorce process with confidence and well-prepared? Consider the following 10 tips to prepare for divorce.

Everyone who has anyone in their life needs an estate plan, even people who own little or no property.