There are many uncertainties and what-ifs to consider as you delve deeper into the divorce process. One major subject of planning and negotiations is the fate of your family home.
There are multiple reasons why it may be necessary or encouraged to sell the house in the divorce, some of which may be worth discussing with your soon-to-be ex-spouse. Knowing more about why you might have to sell your family home during the split can help you arrange your priorities during and after the divorce.
Why might I have to sell the family home?
New Hampshire is an equitable division state when it comes to matters of marital property division in divorce. One way to simplify the equitable division of assets, and therefore streamline the entire divorce process, is by selling the home and splitting its monetary value. Another reason to consider selling the home is that even though one individual might be able to keep the property after divorce, it may be difficult or possible to maintain it with a single income.
Is there an alternative to selling the house?
If you wish to keep the family home while avoiding a complex courtroom battle regarding the division of assets, one solution is to solve the matter through mediation. Outside of the court setting, you and your soon-to-be ex-spouse can arrive at a mutually-beneficial compromise that makes it possible to avoid selling the house while also ensuring a fair outcome for the other party.
Selling the family home in your divorce can make the divorce process simpler and allow you to downsize ahead of your post-divorce lifestyle. If you do not wish to sell the house, though, there are other methods for coming to a reasonable outcome either in or out of court.