Can You Sell Your House During a Divorce?
When a couple decides to divorce in California, their house is often the most important asset to distribute in the settlement. Spouses often wonder if they can stay in the house, whether they can retain ownership, or if they should sell. It is crucial to develop an understanding of your options when you are in this situation, and a trusted divorce attorney is the best tool you can use to understand your alternatives and protect your interests.
If you and your spouse bought your home as a married couple, it is considered “community property” in California. In the case of a divorce, this means that the home’s value will be divided 50/50 between the spouses. Your options for keeping or selling the home are dependent upon your ability to reach an agreement that satisfies both you and your spouse. This could mean selling the house and splitting any profit evenly, but many couples reach an agreement in which one party purchases the other’s share of the home.