It is highly likely that if you obtain a divorce, you will be required to either move out of the house you now live in or sell it. If you and your partner are both homeowners, it will be considered property of the marriage and shared proportionately if the couple decides to divorce. At this stage in their lives, many married couples decide to sell their homes so that they can more easily divide the sale proceeds amongst themselves. This is a common choice for married couples, but contacting a high asset divorce lawyer in Newburyport is crucial.
Although many people choose to go in this direction, it does not mean this is their only option. One of the partners may want to keep the title to the house, in which case they could offer to buy out the other for a lower price. Even after divorce, a married couple may continue holding joint ownership of the home they once shared. If both of their names are included on the title deed and mortgage, they can own the house together legally, even though they are not married.
Why would anyone choose these other options over the first?
The most important thing is to hone down on the particulars of your situation and circumstance. After the conclusion of your divorce proceedings, could you please fill me in on your plans for the future? Which course of action would be most helpful to everyone involved in this situation?
For instance, you and your partner might have children who are now enrolled in high school, who are your responsibilities as parents. They will receive their high school diplomas and then move on to continue their education by registering in college during the ensuing years. If they are uprooted now, it may be particularly challenging for them to adapt to the new school system they will be attending. If you and your ex-spouse plan to sell a house after letting the children live in it for a few years until they move out, you might want to consider purchasing the home together before you put it up for sale. This will allow you to obtain the most money possible from the sale.
This is just one of many potential outcomes, but it demonstrates why you should not make any assumptions about your divorce and should instead look into the various legal choices open to you.
