Who Will Get the House in My Divorce?
Going through a divorce is difficult, and splitting property can prove a huge challenge. One of the most painful conflicts of any divorce (other than child custody issues) is who gets the house. Your house is not only where you and your children rest your heads, but also a symbol of everything you’ve worked so hard to accomplish. Separating a home’s property value from the emotions you have invested in it can challenge anyone.
Your home is likely your most valuable physical property—and this value incorporates everything you’ve put into it, including the improvements you’ve made, the furnishings you’ve purchased, and the landscaping you’ve contracted. Furthermore, the house your family lives in is so much more than just a house—it’s your home. Determining who will stay in the family home—or if either of you will stay in it—is one of the most emotionally fraught elements of any divorce.
Texas: A Community Property State
Because Texas is a community property state, any property that you acquire together during your marriage—such as your home—belongs to your community estate (the community of you and your spouse) and is subject to division upon divorce.
The court, for obvious reasons, can’t actually divide your home, so it will take a different approach and will carefully examine the circumstances specific to your divorce. The court will determine which spouse is financially better equipped to personally take on the expense of the home and which spouse is better suited to serve as the primary parent and live in the home with the kids. The court will attempt to keep the children in the home in an effort to minimize further disruptions to their lives.
How Couples Divide Their Homes
Divorcing couples usually consider two primary approaches regarding the division of their home:
One of you will remain in your home while the other gets bought out. In this scenario, you could remain in your home by paying your spouse half of the equity that you developed in the property—or an equivalent amount in something else of value, such as a retirement asset.
You sell the home, and you both split the equity. This is a fairly straightforward approach that often works well when children are grown and out of the house when you don’t have kids, when neither of you feels a strong attachment to the home, or when neither of you can afford the mortgage payments on your own.
It often comes down to how badly you want to stay in your home and how far you’ll go to ensure that that happens. Often, where there’s a will, there’s a way. This approach, however, can quickly grow complicated—especially if you and your divorcing spouse are already at loggerheads.
Contact A Richmond, Texas, Divorce Attorney Today
If you’re looking at a Texas divorce and you’re worried about losing your home, you need an experienced divorce lawyer who will help you carefully consider your options and determine how best to go about attempting to remain in your family home. The Vendt Law Firm, P.L.L.C., is here to help you do just that, so please make an appointment with Attorney Frank J. Vendt today by contacting or calling our office at (832) 276-9474.