| People don't like to think of the end of something, | | | | any offer, just to get the situation over with. |
| but with divorce rates higher than ever before in | | | | If one party wants to keep the house, they need |
| history, the reality that you and your spouse | | | | to be sure what its value is so that the division of |
| might split some day is a likely one. How you | | | | assets is equal and fair. There have been cases |
| divide the assets can be complicated. | | | | wherein a spouse with an emotional attachment |
| One of the largest assets couples often | | | | to the marital home accepts it in a marriage |
| accumulate during a marriage is their home. | | | | settlement in lieu of a much more economically |
| Whether a spouse wants to sell the house or | | | | valuable settlement. So maintaining objectivity is |
| keep it after a divorce is usually an emotional | | | | very important when determining who gets what. |
| issue. No matter what, you will need to determine | | | | However, there are some very real reasons why |
| how much it is worth, and who it belongs to. | | | | a person should stay in their home, for example if |
| If the home was purchased by one partner | | | | there are young children in the family for whom a |
| before the marriage, it may be considered | | | | move would be stressful. However, getting the |
| non-marital equity, and therefore belong only to | | | | house should not replace another more valuable |
| that one person. However, if there have been | | | | offer, but be one part of an equal division of |
| re-mortgages since the marriage, then the | | | | assets. |
| non-marital equity clause may be void and the | | | | When getting an assessment, don't rely on your |
| home may be considered the asset of both | | | | annual tax assessment. These tend to be low |
| parties. This is when an accurate assessment | | | | assessments, and a comparative market analysis |
| needs to take place. If neither party wants the | | | | will be far more accurate. If there is any concern, |
| home, it can be sold and the assets divided. | | | | it may be wise to conduct any relevant |
| However it is a complicated process to sell | | | | inspections on the home, even if you aren't |
| together while undergoing a divorce. Greed or | | | | planning on selling. This will reveal any problems |
| hostility on the part of one or both parties may | | | | that may reduce the value, and will allow for a |
| make it very hard to settle on an offer. On the | | | | more accurate assessment. |
| other hand, an ex-couple might be relieved to get | | | | |