Divorce inspires many questions and will leave you with a lot of choices to make. One is whether to try and keep your marital home – if you and your spouse co-own your property.
Many people assume they need to fight to get the house because it’s what they’ve seen fictional characters do on TV or read about celebrities doing in real life. Yet, it is not always the best policy.
There is no universal answer about what to do with property
There are many variables at play in a divorce. What is best for one person in their divorce may not be so for someone in a different situation. Here are some things to consider:
Can you afford it? A large family house will be expensive to run, and, especially if you still have many years of mortgage payments to make, you might be better off with something smaller and more affordable.
What would you be willing to give up to keep it? Property division in Tennessee needs to be equitable. So, if you keep the house, what would a judge allow your spouse to keep to make things fair?
How will it affect any children you have? Allowing your children to continue living in a property they have always lived in can provide them with crucial stability. If the children are likely to spend more time living with one parent than the other, some couples consider it best to allow that parent to keep the property for the benefit of the kids.
Learning more about how the property division process works can help you make informed choices as you divorce.