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Important considerations for those who want the family home

On Behalf of | Jun 27, 2019 | Property Division

Although a divorce may be a necessary part of starting one’s life over in the wake of troubles, it is never easy on a Virginia resident to uproot their life and start fresh as a single individual. For some, letting go of significant pieces of property may be very difficult and they may hope to retain some of those items and parcels once their marriages are over. One of the most sentimental and therefore contested items of property that individuals may share with their soon to be exes is the family home.

A home is more than just a place. To some, it is where they raised their children and created their best memories. It may be unfathomable to some divorcees to see their homes sold so that they can split the proceeds with their exes; they may wish to hold onto their homes one their divorces are over.

However, keeping the family home may not always be a good idea for someone who is going through a divorce. Courts may allow parties who retain physical custody of their kids to keep their homes so that the children have some normalcy and stability as their parents separate. Parents in this situation should have the financial means to maintain their homes so that the homes are not lost to foreclosure.

If a person cannot pay the mortgage on their family home and do not receive enough support to manage it, keeping their home may not be a wise choice. It is important for readers to understand their own financial and legal situations to determine if they should fight for their family homes. Their divorce attorneys can advise them on this and other topics as this post is not legal advice.

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