If you own a home with your spouse, it will likely be considered part of the marital estate. In Florida, you are generally entitled to a portion of the value of assets in the marital estate. It’s possible that you will simply take possession of the home as part of the final settlement of your case. However, there is a better chance that the property will be sold instead.
What happens if you decide to sell the house?
Typically, the first step in selling a home as part of a divorce settlement is to get the property appraised. If necessary, you can choose to have the home appraised by more than one person to get a better idea of what the home is worth. The next step is to come to terms as to when the home will be sold.
In the event that the house will stay on the market, it’s important to have a written agreement as to who pays the mortgage and who is responsible for maintaining it. This agreement should also determine who gets to live in the house or otherwise make use of it while it is still in your possession.
Can the home be sold before the divorce is finalized?
A judge may allow the marital home to be sold before the divorce is finalized. You can also agree to sell the house at any time by simply obtaining your spouse’s permission. Taking this step may be ideal if you feel that market conditions may make it harder to liquidate the asset in a timely manner and for the right price.
A divorce may have a significant impact on your life for many years after your marriage officially ends. However, it may be possible to start rebuilding your life by obtaining your share of what is likely the most valuable asset in the marital estate.