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What will happen to the family home during a divorce?

On Behalf of | Jul 23, 2021 | Divorce |

One of the most difficult aspects of divorce is the division of valuable marital property. This may include the family home, and it is possible both parties want to retain this asset either for themselves or for the children. It is not always prudent for a spouse to hold onto this asset, and it can be helpful to understand the options for how to appropriately and most beneficially deal with the family home during a divorce.

Property division and long-term well-being

Divorce requires the division of all marital property, which may include the family home. If the couple is unable to resolve this matter out of court, the court may require the sale of this specific marital asset. If that happens, the proceeds may then be divided between the couple according to Tennessee property division laws.

A couple may simply decide that selling the home is the right choice before or during divorce. It is essential to get the optimal price for the home, allowing both parties the opportunity to secure a reasonable amount that may benefit them as they move forward from divorce. In such a high-stakes real estate transaction, it is helpful to have the guidance of an experienced real estate attorney.

Real estate law experience

Buying or selling a home is a major decision for a Tennessee adult. It is the interests of someone facing the decision of what to do with the family home during a divorce to have the experienced guidance of a legal professional with real estate law experience. Before making an important decision, it may help to seek a complete evaluation of the case and explanation of legal options.