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Is it in your best interests to keep your house after divorcing?

On Behalf of | May 24, 2016 | Uncategorized

While divorce is sometimes a necessary step for a married couple that is no longer happy, it can be emotionally taxing. And often these emotions can overshadow some of the other aspects of the divorce process. But it is important to try to execute each step of a divorce in a logical manner, rather than being controlled by your feelings.

Property division is one of the most important facets of the divorce process. It is fairly easy to assign ownership of certain assets. But for other assets, it may take serious consideration and negotiation before the most equitable decision is made.

For many couples, the most valuable asset they own is their home. And the question of who gets the house can lead to conflict. After all, a house can provide both physical and financial security as the years go by. But sole-ownership of a home can be a challenging and expensive undertaking. So if you are going through a divorce, is it in your best interest to take possession of the house?

Well, it depends on your circumstances. Perhaps the most important consideration is the cost. Do you believe you will be able to keep up the mortgage payments after the divorce alters your financial situation? What sacrifices are you willing to make or able to do to keep the house?

Also, how long would you be planning to keep the house? You may only want the home as long as your children are still in school, or it could be part of your long-range plans, but each scenario has its own set of factors to look at.

Dividing property can be extremely daunting and even contentious. As such, if you are going through a divorce, you may want to have a Texas family law attorney act on your behalf. The attorney can help take an inventory of your assets and help you work toward getting a settlement that is fair and best suits your needs.

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