Deciding where to live during and after a divorce can be difficult. Many spouses in Texas and around the county negotiate tenaciously to remain in the family home while others plan to move away and buy a new house, and for some renting an apartment for a year or two makes the most sense. While emotions play a significant role when these decisions are made, there are also practical, financial and legal issues that divorcing spouses should not overlook.

Spouses who wish to remain in the homes they have lived in for many years will likely be asked to take out a new mortgage. This is because banks are unswayed by divorce property settlements and will pursue any individuals who signed a mortgage when payments fall into arrears. Homes acquired during a marriage are considered marital property, and spouses will generally have to offer other assets or cash in exchange for their husband or wife’s share if they wish to obtain sole possession of them. People who take this path should also consider the costs of repairing and maintaining a large home.

Emotions can also be strong when spouses view divorce as an escape and hope for a fresh start in a new home, but this will involve qualifying for a mortgage and dealing with unexpected expenses. Renting a home for a few years allows people to keep their options open, and it may be a prudent strategy for those who will be adjusting to life on a tighter budget.

The primary residence is often the most valuable asset discussed during property division negotiations, and matters can become especially contentious when the house involved is not being placed on the market. The value of the property becomes a crucial issue in these situations, and experienced family law attorneys may insist on appraisals conducted by independent professionals.

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