Who Gets the House When No One Can Afford to Keep It? Keeping and Sharing the Home in a Divorce
The changes that families encounter while going through a divorce are troubling, and often times quite emotional. Deciding who will get to keep the house in a divorce settlement can be one of the toughest obstacles, especially when there is emotional attachment to the home by either spouse or the children.
It is always best for the couple to come to a mutual decision about who will get to keep the house. Often times, the home serves as a settlement tool, where the couple will be satisfied with dividing the assets. If a couple cannot come to a mutual agreement, the decision will be made by a judge.
When deciding who will keep the home, there are many things that are taken into consideration. First, if there are children involved in the divorce, it is best to keep them living in the same household. This ensures that they will continue going to the same school and be with the same friends, giving them a sense of normalcy in their lives.
Another aspect that should be considered is if the home has any type of emotional attachment to either spouse. If the home was once owned or passed down from a family member, there will be strong ties to the home. The same holds true for stay-at-home parents who spend most of their time in the home.
Because of these issues, often times it’s the mothers who get to stay in the house with the children. The father will move out, preferably in a nearby location where he can still be an active part in his children’s lives. However, it ultimately comes down to whether or not the home can be afforded by either spouse.
That is why during these times of economic hardship, many divorced couples find themselves living under one roof. Living together certainly has its disadvantages, but can have its advantages as well. Couples can use this as a short-term plan and save money after divorce. They can work on trying to sell or lease the house in the meantime, while still being able to raise the children together.
To make this arrangement work, a couple must come together to agree on how the bills will be paid. Because divorce is expensive, new payment obligations will be added to the tight budget. Living together after divorce is certainly not a standard approach, but with some effort it can certainly offer a brighter and more financially secure future for everyone involved.