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Can spouses keep the house together after divorce?

On Behalf of | Mar 6, 2019 | Uncategorized

In some parts of the country, the divorce rate has declined. However, that does not appear to be the case for Virginia where experts believe that new statistics will reveal the divorce rate in 2018 was higher than the rate for 2017. 

There are numerous issues you and your spouse have to contend with in the divorce. Since a house is typically the most expensive asset both spouses own, it may become the most contentious problem you have to deal with. There are many ways to resolve this problem, and you and your spouse will need to talk about the matter maturely to determine what is best. 

Weigh all options

For many couples, selling the house and dividing the money is the best course of action to take. In many cases, neither spouse can pay the mortgage and property taxes independently, so they sell the house rather than bury themselves in debt. In cases where one spouse can pay off the house, he or she may hang onto the house while the other spouse receives compensation another way. 

It is possible for both spouses to keep their names on the house, but it usually does not happen. They may retain the house until the housing market improves, so they get more money out of the deal. They may intentionally delay finalizing the divorce because they simply cannot afford to separate at this point and time. If you do plan on staying, then you will probably need to create a new deed titling that lists you as joint tenants. It protects both of your interests in the event something happens to the other. 

A judge will not force you and your spouse to sell the house or keep both your names on it. As long as what you plan on doing is not illegal, you can do whatever you please. A judge will likely offer a recommendation, and most of the time, this suggestion is to simply sell the property. 

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