Will You Have to Sell the Family Home in the Divorce?

Being decisive about going through with a divorce can help you plan a clear future for yourself, but there are likely to be many uncertainties to address along the way. One such issue is regarding the fate of the home you and your soon-to-be ex-spouse currently share.

You likely feel a certain attachment to the family home, especially if you are raising your children there. You can proceed with clarity by understanding your options when it comes to deciding whether or not to sell the house in your divorce.

When should you sell your house in a divorce?

Minnesota courts follow a policy of equitable division of marital property when distributing assets between divorcing individuals. One solution for satisfying equitable division is to sell the family home and fairly split the proceeds between spouses. You might also find yourself in a situation in which you will retain ownership of the home, particularly if the court names you as the primary custodian of your children, but you might find it difficult to afford upkeep costs under a single-income lifestyle.

Is there an alternative to selling the family home?

One alternative is to find compromise through mediation for one spouse who is capable of living in and comfortably affording the home to keep it by surrendering other assets of similar value without the need for a transaction between spouses or otherwise. One similar arrangement might involve sharing ownership of the house while the custodial parent raises the kids until adulthood, at which time you can jointly sell the property.

It might be emotionally painful to sell your family home, but doing so may be the most practical decision during or after a divorce. Alternatively, you can discuss a different course of action by engaging in amicable mediation with your soon-to-be ex-spouse.