There are basically three things that can happen to a family home as part of a divorce settlement when one spouse is going to retain the property rather than sell it.
According to our Founder, Ross Garcia:
Along with alimony, visitation and child support issues, few things in a divorce will cause more disagreements than what to do with the family home. In addition to retirement and pension accounts, a family home is probably the most valuable asset to be divided in a divorce. Tradeoffs are inevitable, and in many cases, one spouse will gain control of the home as part of a settlement agreement.
But once that’s been decided, it presents new challenges for the awardee, the biggest one being whether the spouse and children (if there are any) can actually stay in the house. What are the options?
Click here for the full Forbes feature article.
Be sure to share with family and friends!