Divorce: Who Should Get the House?
Divorce is never easy, and one of the most complex decisions couples face is what happens to the family home. In Pennsylvania, property division follows equitable distribution laws, meaning assets are divided fairly—but not necessarily equally. So, who gets the house? Let’s break it down.
Marital vs. Non-Marital Property
Before determining ownership, it’s important to know whether the home is considered marital property or separate property:
Marital Property: If the home was purchased during the marriage, it is likely considered a marital asset, regardless of whose name is on the deed.
Non-Marital (Separate) Property: If one spouse owned the home before the marriage and did not add the other spouse to the deed, it may be considered separate property—unless marital funds were used to improve or pay for it.
Who Gets to Stay?
There are a few common ways divorcing couples handle the home:
One Spouse Keeps the Home – If one person wants to stay, they may buy out the other’s share by refinancing the mortgage or compensating them with other assets.
Sell the Home & Split the Proceeds – If neither spouse wants or can afford the home alone, selling and dividing the profits is often the best solution.
Co-Ownership – Some couples agree to keep the home temporarily, especially if children are involved. One spouse may live there until the kids reach a certain age, and then the home is sold.
Important Considerations
Mortgage Responsibility: If both spouses are on the mortgage, refinancing is often necessary to remove one person’s financial liability.
Tax Implications: Selling the home or transferring ownership may have tax consequences, so it’s wise to consult with a financial professional.
Legal Guidance: Working with a real estate professional and a family law attorney can help ensure a smooth transition.
Navigating Real Estate in Divorce? Let’s Talk!
Divorce is stressful, but you don’t have to navigate the real estate aspect alone. Whether you’re looking to sell, refinance, or explore your options, I can help guide you through the process. Contact me today to discuss your next steps!