What happens to the house during a divorce?
What happens to your home is completely up to you and your partner. In a perfect world the two of you will make a decision, with the help of a solicitor, that you both agree with. This could be one of you remaining in the home, one party buying the other out or selling up. However, divorces are difficult times and tensions can reach a head easily, resulting in a lack of communication about how to tackle assets. In this situation legal professionals will step in to make sure the settlement is fair. If you have children under the age of 18 their welfare is and will be paramount in any legal proceedings.
Can my ex-partner sell our house?
Exes can try to force you out of the home, but they cannot legally. Until a divorce is finalised you both legally have the right to remain there. Even once a divorce has been granted, you are still not obligated to sell.
If an individual has left the home and there are children under the age of 18 living there, most legal bodies will grant the remaining parent the right to live there. However, regardless of circumstances, exes will be considered and sometimes (particularly if there are no children involved) selling up is the fairer option so that you can both benefit from the capital.
What happens to a joint mortgage when you divorce?
Having an outstanding joint mortgage following a divorce or separation can be difficult. During a divorce the mortgage still needs to be paid, regardless of who is or isn’t living in the property as you are both liable for the debt. Not paying your mortgage can damage the credit history of both individuals and result in repossession if the case were to go to court.
If you are divorcing, let your mortgage lender know. Even if you don’t think you will struggle with repayments, they will be more sympathetic if you were honest from day one. Many lenders will arrange a mortgage payment or holiday or give you some breathing space whilst you tackle the situation.
Although it may seem very black and white, most couples have the following options with a joint mortgage property during a divorce:
During a divorce you have the following options if you have a joint mortgage:
- Sell up and move
- Keep the property and pay your mortgage
Selling a house after divorce
Sometimes selling the marital home is the result of a separation or divorce. This can be a mutual agreement or an act decided by the courts. Before putting your home on the market, you should consider:
- How much your house is worth?
- What method of selling would be best for you?
- Do you have somewhere to live?
If you would like a quick and simple house sale there is an alternative to the traditional open market route. Get in touch with us today to discover how we can make selling your home, during or after a divorce, as stress-free and seamless as possible, in as little as seven days.
If you want an easy and efficient house sale solution following a divorce or separation, simply fill in our enquiry form and we will be in touch before you know it.