Your home doesn’t have to be sold, and in today’s market it’s often impossible for a couple to sell their house at a profit.
For many couples, the better choice is for one spouse to remain in the home, refinance it as the sole owner, and then pay the other spouse an equalization payment of half of the equity.
This is harder in situations where the property value is “underwater,” or where a divorce is contested and each spouse has a different idea of how the house should be handled.
So no, you don’t have to sell your home as part of a divorce, but you do need to treat it as an asset and as a negotiating tool.
The divorce attorneys at Zelenitz, Shapiro & D’Agostino can help you keep your home after a divorce. Call us at 718-523-1111 for a free consultation.