Will I Lose My Home? The Truth About Divorce and Your Residence
One of the biggest fears people face when considering divorce is, “Will I lose my home?” The idea of being forced to move, especially during such an emotional time, can be overwhelming. If you have children, the thought of uprooting them from their familiar environment can feel unbearable. Financially, the uncertainty of affording a mortgage or rent on your own can be terrifying.
These concerns are valid, but here’s the truth: losing your home is not an automatic outcome of divorce. Every case is different, and many factors determine who stays in the home, who moves out, and how property is divided.
Who Gets to Stay in the Home?
The answer depends on several factors, including:
- Who legally owns the home? If the house is in both spouses’ names, it is typically considered marital property and must be accounted for in the divorce.
- Who can afford to keep it? Even if a judge grants you the home, you must be able to afford the mortgage, taxes, and maintenance on your own.
- Are there children involved? If you have minor children, courts often prioritize stability, which may mean allowing the parent with primary custody to remain in the home.
- Is the home a marital or non-marital asset? If one spouse owned the home before the marriage and kept it separate from shared finances, they may have a stronger claim to it.
What Are My Options?
If keeping the home is important to you, here are some possible solutions:
- Negotiating to buy out your spouse’s share – This may involve refinancing the mortgage or offsetting their interest with other assets.
- Agreeing to sell the home and split the proceeds – While difficult, this option provides a clean financial break and allows both spouses to move forward.
- A temporary arrangement – Some couples agree that one spouse stays in the home for a certain period (e.g., until children reach a specific age) before selling.
Protect Yourself with the Right Legal Strategy
Divorce doesn’t automatically mean losing your home. The key is understanding your rights and financial options before making any decisions. Leaving the home too soon or agreeing to unfavorable terms without legal guidance could hurt your case.
If you’re worried about what will happen to your home in a divorce, don’t make assumptions—get answers. Call us today to schedule a confidential consultation. We’ll walk you through your options and help you create a strategy to protect your future.
**Please note to ensure you receive a timely response from a member of our staff, please include family@costalawyers.com in all email correspondence. Thank you **
