What Happens to the Family Home After a Divorce?

During a divorce, North Carolina couples may find that they have to negotiate when it comes to splitting up the assets that they obtained while they were married. Of course, the family home cannot be physically split. This means that either one person will end up with the home or no one will end up with it.

There are a number of factors that must be taken into consideration when determining what should be done with the family home. The simplest solution is often to just sell it and then split the profits between the former spouses. However, it should be noted that this does not mean that the profits will be split evenly. It will depend upon who put more money into the home and who invested in the home improvements.

If the couple had children, they become a major deciding factor when it comes to the home. Judges often try to keep the kids in the home they were growing up in to prevent as much disruption as possible. However, if the parent cannot afford to keep and maintain the home even with spousal and child support payments, it is likely that the judge will order the former couple to sell the home.

In addition to the family home, other assets will need to be divided as well. These assets may include bank accounts, retirement accounts and even artwork. If there are items that have sentimental value, a family law attorney may assist with negotiating with the other party in order to keep these particular items or assets when the divorce is finalized. Additionally, if there are major assets that need to be separated, the attorney may look for any assets that the other party may try to hide.

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