The end of a marriage represents a time of change and transition for every family member. While each situation is different, there are times when it makes sense for a Tennessee spouse or the couple to sell the family home during their divorce. If this is the best decision, it is important to be aware of how one can protect his or her interests at every step.
A complex legal and financial decision
Selling a home is a critical legal and financial decision, especially during a divorce. While it is often complicated to sell a home during the difficult process of going through a divorce, it is sometimes a beneficial option. Some of the following options for addressing the family home during a divorce include the following:
- A couple may decide to co-own the house, waiting until the divorce is final to sell it.
- One spouse may decide to buy out the other spouse’s share.
- The couple may decide to sell the home and split the profit.
An assessment of the specific situation can help a couple know how to approach this type of asset while navigating their divorce.
Smart choices during a divorce
What to do with the family home is often one of the most complex matters a Tennessee couple will address during their divorce. It is helpful to discuss this option with an experienced attorney who can provide insight regarding potential legal options. When considering this step, it is beneficial to consider what will make the most sense long term.