${site.data.firmName}${SEMFirmNameAlt} Main Menu
Call Today: 855-805-0595

Splitting the home after a divorce

40497056_S.jpgDivorcing couples in Missouri who don't plan for their separation can make many costly mistakes. In order to make the best choices about their homes, it is important that separating spouses think objectively and make decisions based on logic rather than emotions.

When divorcing, individuals generally have just a few housing options, each of which has certain financial implications. They can decide to retain ownership, the house can be sold and the proceeds be divided or one spouse's ownership can be purchased by the other spouse.

When a home is placed on the market, homeowners should focus on making the most of its selling price. During the marketing process, a real estate agent can be consulted for professional guidance. Each party should be aware of what his or her net proceeds will be. The exact amount will depend on who made the down payment, relevant property laws and the terms of the divorce settlement.

Spouses who decide to buy out the other will have to determine how to meet their monthly household expenses on a single salary. Refinancing on one salary may also be a challenge if the original loan was qualified for two salaries.

Spouses who are bought out should keep in mind that if the loan is not refinanced, they may still be liable for the balance as a co-signer. The liability of the home may also make it difficult for a divorcee to qualify for a new mortgage on his or her own.

A divorce attorney may help a client resolve disputes regarding property division. The lawyer could litigate or negotiate to arrive at settlement terms that are beneficial to the client.

No Comments

Leave a comment
Comment Information

Contact Our Team To Get Help Now

Tell us about your case and we’ll get back to you promptly.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close
Stange Logo

Stange Law Firm, PC
1506 Chapel Hill Rd
Suite H
Columbia, Missouri 65203

Toll Free: 855-805-0595
Fax: 314-963-9191
Law Office Map

DHQ | Divorce Headquarters Divorce
Headquarters ® App Download The App
Questions? Live Chat Pay Your Bill Online
States of Service

Other Office Locations

  • Saint Louis County: 120 S. Central Ave., Suite 450, Clayton, MO 63105: Clayton Office
  • West County: 16024 Manchester Rd., Suite 103, Ellisville, MO 63011: Ellisville Office
  • Jackson County: 256 NE Tudor Rd., Lee's Summit, Missouri 64086: Lee's Summit Office
  • Jefferson County: 16 Municipal Drive, Suite C, Arnold, MO 63010: Arnold Office
  • St. Charles County: 2268 Bluestone Drive, St. Charles, MO 63303: St. Charles Office
  • Franklin County: 5 S. Oak St. Union, MO 63084: Union Office
  • Lincoln County: 20 Centerline Drive, Troy, Missouri 63379: Troy Office
  • Boone County: 1506 Chapel Hill Rd., Suite H, Columbia, MO 65203: Columbia Office
  • Greene County: 901 E. St. Louis, Suite 404, Springfield, Missouri 65806: Springfield, MO Office
  • St. Clair County: 115 Lincoln Place Ct., Ste. 101, Belleville, IL 62221: Belleville Office
  • Madison County: 5 Club Centre Ct., Suite A, Edwardsville, Illinois 62025: Edwardsville Office
  • Sangamon County: 400 S. 9th St., Suite 100, Springfield, IL 62701: Springfield Office
  • McLean County: 1012 Ekstam Drive, Suite 4, Bloomington, IL 61704: Bloomington Office
  • Johnson County: 7300 West 110th Street, Suite 560, Overland Park, KS 62210: Overland Park Office
  • Sedgwick County: 2024 N. Woodlawn Street, Suite 407, Wichita, Kansas 67208: Wichita Office
  • Shawnee County: 800 SW Jackson Street, Suite 812, Topeka, Kansas 66612: Topeka Office
  • Tulsa County: 6660 S. Sheridan Road, Suite 240, Tulsa, Oklahoma 74133 Tulsa Office
  • Monroe County: 116 W. Mill St., Waterloo, IL 62298 (by appt. only): Waterloo Office
  • St. Louis City: 100 S. 4th St., #549, St. Louis, MO 63102 (by appt. only): St. Louis Office
  • Jackson County: 2300 Main St., #948, Kansas City, MO 64108 (by appt. only): Kansas City Office

The choice of a lawyer is an important decision & should not be based solely upon advertisements. See additional disclaimers here.