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Real estate mistakes to avoid when getting divorced

On Behalf of | Dec 28, 2018 | Divorce |

New Hampshire residents who are facing divorce should remember there are several common real estate mistakes of which they should be mindful. For example, choosing not to sell the house right away can result in legal headaches further down the road.

Many couples try to put off selling their house because they know it will clue in nosy neighbors. Others put it off because of emotional attachments to the home or because they do not want to uproot their children. Some couples try to avoid these problems by having one person stay in the house. However, one individual keeping the home has its drawbacks. For example, the house may not be as affordable to someone with a single income. If the other spouse eventually wants to sell the home, the person living in it may be unwilling to move. If a divorce agreement does not carefully outline the responsibility of property and shared ownership, the spouse who leaves the house should be removed from the deed to prevent all future financial or legal liability in the event his or her ex has problems affording the home.

The headaches associated with one spouse staying in the home are why it is generally recommended that divorcing couples sell their house as quickly as possible. This ensures each spouse receives his or her fair share. Even if a couple intends on keeping the house, a judge or mediator may have a different opinion and require them to sell it. However, this can be prevented by having one spouse buy out the other.

A couple that is getting a divorce should consider working with an attorney experienced in family law and property division. A lawyer may be able to successfully represent a spouse who wishes to keep or sell the family home and offer unemotional advice on asset division.