What Is Going To Happen To Our House Now That We Are Getting A Divorce?
Your house will be treated a bit differently because it is the largest asset. First a judge will consider whether one of the spouses has custody of a child or children and is in need of ownership or occupancy of the house to care for the child or children. As a practical matter, the equity in the house will likely need to be split. Thus, unless the spouse who is staying in the home can either refinance the house to pay the other spouse their share of the assets or has assets held elsewhere that can be traded for the equity in the house then the house may have to be sold.