Navigating Homeownership During Divorce: Insights From New Leaf Family
New Leaf Family
We empower our clients to make the best decisions for themselves, and their families.
Understanding Property Ownership
When it comes to divorce, questions about what happens to the family home are common. Amber McClain, a family law attorney, sheds light on this complex issue.
Factors Affecting Property Division
McClain explains that the fate of the home depends on various factors, including when the property was purchased. If bought before marriage, it's often considered separate property, while homes purchased during marriage are typically deemed marital property.
The Decision-Making Process
For homes with both spouses on the mortgage, decisions become more intricate. During property division, options include one spouse buying out the other, refinancing, or selling the property. McClain stresses the importance of mutual agreement, as leaving it to the court can lead to undesirable outcomes.
Empowering Couples To Decide
Ultimately, McClain highlights that it's in the parties' best interest to decide the fate of their home together. Otherwise, the court may intervene, potentially resulting in outcomes neither party desires.