Are you selling your home during a divorce?

The time it takes to sell a house during a divorce can vary depending on various factors, including the property market, location, and the condition of the house. On average, it takes several months to complete a sale. It's crucial to be patient and work together with your ex-spouse and professionals to navigate the process smoothly.

The division of property in a divorce can vary depending on the circumstances and whether you and your spouse can reach an agreement. Typically, the house may be sold, and the proceeds divided between the spouses. Alternatively, one spouse may buy out the other's share, or ownership may be transferred to one spouse as part of the divorce settlement.

No, you don't have to sell the house if one spouse wishes to keep it. You can negotiate and agree on various options, such as one spouse buying out the other's share or offsetting the property's value with other assets. However, it's essential to involve legal and financial professionals to ensure a fair and legally binding arrangement.

The mortgage on the house will need to be addressed during the divorce proceedings. Both spouses remain responsible for the mortgage until it's either paid off or refinanced. You can discuss with your lender options like selling the property, one spouse assuming the mortgage, or refinancing to remove one spouse's name from the loan.