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Who gets the house in Divorce?

Who gets the House?

Generally, the largest single asset a couple has is their house. If you are divorcing, you may be wondering what happens to the house. The simplest way to divide it is to list and sell the home and divide the proceeds. If one spouse wants to keep the home, and perhaps keep the children there for the most part, there may be an offset of another asset be awarded to the spouse who does not retain the home. Or a spouse may elect to buy out the others share. This may require refinancing the property.

If the home is not sold and one spouse remains in the house, provisions will need to be made for payment of the mortgage, property taxes, insurance, and repairs.

Issues concerning transfer of ownership and buying out your share of the house are all handled by our experienced divorce attorneys. They can discuss how transfer of ownership and quit claim deeds work in divorce.

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