When you buy your house with your partner, you think about all the happy times you’ll enjoy in your new home.
However, you don’t necessarily think about what will happen to your home if you split up.
If you and your spouse are divorcing, you might wonder what will happen to your home if you sell it. Can you be forced to make a sale? Do you need to get the courts involved? And is it better to sell your home before or after you get divorced?
We’ll answer all your questions in this article.
What happens to a house in a divorce?
There are no fixed rules, and it depends on the specific circumstances.
Some couples agree to sell their house and split the equity. In some situations, a partner may ‘buy out’ the other partner’s share of the house and stay there. The house will need to be mortgaged again in this scenario.
Sometimes a divorcing couple may agree on certain conditions. For example, one partner will stay in the property until the children turn 18, and then the house is sold. If this happens, you’ll need to determine who is responsible for paying the mortgage and how you’ll split the equity when the house goes on the market.
Do I need to go to court to sell my house?
Not necessarily. If you have a prenuptial agreement with your partner or can amicably agree on what you want to do with the property, you don’t need to go to court.
However, if you can’t come to an agreement, then you will need to go to court. A judge will look at your income, financial needs, and the circumstances of the divorce, to determine what happens to the property.
Can my husband or wife force me to sell the house?
No. Both parties must agree to the sale of the home before it takes place.
However, the party that wants to sell can apply to the court for an order. The judge will look at both partners’ circumstances and determine whether the property has to be sold.
Should I sell my house before or after the divorce settlement?
There are advantages and disadvantages to both options.
If you’re on amicable terms, selling your property before you divorce means you can agree on how the assets will be divided. This means you can move on with your life and have the cash to buy your next home. If you’re downsizing, you may even have some money left for a holiday or shopping spree!
The downside of splitting up and selling your home before the divorce settlement is that you might make some rash decisions or opt for a quick sale which can lead to you not getting the money you wanted.
The benefit of selling after divorce is that both parties are less emotional, meaning you’re more likely to get the right price for your property.
However, the disadvantage is that you could wait a long time to sell your home. This can stop you from moving on as quickly as you might like.
It’s ultimately your decision whether you want to sell before or after your divorce comes through.
EasySale: Making selling your home simple
We hope this article has answered your questions about divorcing and selling your property. Remember that there isn’t a ‘one-size-fits-all’ approach when it comes to selling your home, and your experience may be different to other couples.
There’s a lot on your mind when you’re working your way through the divorce process. If you’ve split up and are looking to sell your home, EasySale can help.
We’ll make an offer on your property, with no fees or hidden charges. We’ll even pay the legal costs of your sale.
We have lots of experience working with homeowners going through a separation. We will handle your house sale with sensitivity, tact, and discretion, talking to both parties separately if needed.
Our team of experts can process the sale of your home in the space of 48 hours, meaning you can get on with a brand new chapter of your life.