Owning House – After Divorce

Divorce, a very ugly word, it breaks a family. But sometimes it is convenient for some people if they are not compactable with each other then it is better to separate from each other rather than stay and keep fighting. Many small things come up while going on for the Divorce. Many settlements have to be done. One of the major thing to settle is the owning of the house where they stayed together.

There can be major disputes in this, which has to be worked out. In case if this does, not work out then court has to interfere and decide after considering both the sides. There are many other options available, house can be sold and the amount be divided equally, any of them may offer o buy the others share. The decision can be amicable or it can turn into an ugly dispute where in judicial system has to interfere.


Many things that has to consider before trying getting the house:

•    Check out the mortgage payments if any.
•    Check out if you can afford to pay the sum comfortably with your single income.
•    Decide if you are comfortable and want to continue living in the house.
•    Do you have any emotional attachment and want to raise your children in that house.
•    Think about the financial security.

Things to be considered before letting the house go:

•    Check its effect on your credit
•    If you are partner on the house mortgage, there is a risk that your ex-partner may not pay and then you will alone be responsible to pay the entire sum.
•    You may not be able to buy another house, if you already have a house mortgage for one.

Protect yourself for any of the issues arising later on regarding small issues, which may later on become a bigger issue.