What to Do With Your Second House During Divorce
The most conflict-ridden property issues in divorce cases usually relate to housing. Whether you rent your house or own it, it takes up a large portion of your budget and a large portion of your mental energy. Home is where you relax; in good times, couples bond over household tasks, and in bad times they argue about them. Even when your life is in disarray because your spouse has moved out and is asking you for a divorce, at least unloading the dishwasher is a source of comfort, because the dishes still go where they always went, even if there are fewer people to eat from them. The stress of figuring out how to pay for the comforts of home on one income is unpleasant, to say the least. Others might envy you if you own and your spouse two houses, but every divorce lawyer knows that the more property you own and the higher its value, the more complicated your divorce is. If you and your spouse own two houses and are getting a divorce, you may or may not need a certified real estate agent, but you definitely need a Boca Raton divorce lawyer.
Each Spouse Keeps One Marital Home
The simplest solution, if you can afford it, is for each spouse to keep one real estate property; this way, everyone gets to keep a house that feels like home. This works best if both houses are in South Florida. For example, Mom can keep the house in Weston that is close to the kids’ school while Dad keeps the beach house in Boca Raton, since he has to commute to work on I-95 anyway. If tenants are living in the beach house, the worst-case scenario is that you must wait until their lease ends before you move in. It is easiest to do this if you have a lot of equity in both houses, so that it will be easier to afford a refinance in one former spouse’s name only.
Sell the House and Make a Clean Break
A common complaint among recently divorced people is that they are short on cash. The proceeds from the sale of your vacation home could give you the cash you need to start your new life as a single person. Selling a house during divorce isn’t easy, but it might be the most affordable option.
Letting Your Spouse Keep an Investment Property Is Cheaper Than Paying Alimony
Many wealthy men are resentful about their stay-at-home wives keeping the marital home and receiving alimony, but if your ex-wife gets to keep both houses that you paid for, count your blessings. She can rent at least one of them out instead of continuing to depend on you, and the judge will tell her so if she asks for alimony.
Contact Schwartz | White About Divorce for Real Estate Owners
A South Florida family law attorney can help you and your ex agree on which of you, if either, gets to keep your second home after your divorce. Contact Schwartz | White in Boca Raton, Florida about your case.
