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When a couple gets divorced, one of the most contentious issues can be who gets to keep the house. After all, the family home is often more than just a roof over your head – it’s a symbol of your life together and a source of happy memories. So, it’s no wonder that couples often have a hard time agreeing on who should get to keep the house in a divorce. Unfortunately, there is no one-size-fits-all answer to the question. It depends on a range of different factors, including your financial situation, the length of your marriage, and whether you have children.
Getting Expert Help From Family Lawyers
Dividing up property in a divorce can be a complicated process. If you and your spouse can not reach an agreement on who gets what, then speaking to Brisbane family lawyers who are experienced in this area can help. This will ensure you understand the process and are as prepared as possible for what lies ahead.
The Family Home as an Asset
The family home is usually the most valuable asset that a couple owns. For this reason, it’s not surprising that there is so much focus on who gets to keep it in a divorce. In Queensland, the family home is considered an asset just like any other property that you might own, such as a holiday home or an investment property. As such, it will be taken into account during the property settlement process.
Determining Your Plans For The House
In order to decide who gets the house in a divorce, you’ll first need to determine whether you’re going to sell the house or if one spouse is going to buy out the other’s interest. If you’re going to sell the house, you’ll need to figure out how to split the proceeds from the sale. If one spouse is going to buy out the other’s interest, you’ll need to determine who can afford to make that purchase and whether or not it makes financial sense for them to do so.
Do You Have Children?
If you have children from your marriage, that could also impact who gets the house in your divorce. The court will usually try to keep things as stable as possible for children following a divorce, especially when they are still school-aged. This means that if one parent has primary custody of the children and lives in the family home, it is likely that they will be awarded sole ownership of that home following the divorce. Of course, this does not mean that the other parent will be completely shut out – the court may still award visitation rights or require that they pay child support – but it does mean that they will not have any ownership interest in the home itself.
The Length of Your Marriage Matters
Generally speaking, the longer the marriage, the greater the likelihood that both parties will want to keep the house. This is because they will have more of an emotional attachment to the property after many years of living there. However, if the marriage has been relatively short, then it is more likely that only one party will want to keep the house.
Financial Considerations
One of the main considerations when deciding who gets to keep the family home is who can afford to maintain it. If one party can no longer afford to pay the mortgage or keep up with repairs and maintenance, then it may not be practical for them to stay in the property. The court will also look at whether either party has remarried or is in a de facto relationship. If so, their new partner’s financial contribution may be taken into account.
Other Assets
Another important consideration is what other assets each party has. For example, if one party owns another property outright, they may be less attached to the family home and more willing to sell it and split the proceeds with their ex-partner.
So, Who Gets the House in a Divorce?
There’s no easy answer when it comes to property settlement in divorce. Who gets the house will depend on a range of different factors, including whether you’re selling or one spouse is buying out the other’s interest, as well as whether there are any children involved. Ultimately, it’s best to discuss your options with an experienced family lawyer who can help you understand your rights and work towards an outcome that’s in your best interests.
