What Happens to the House in a Divorce?

As a San Antonio divorce, attorney, I realize that for most people,their home is the largest asset that they have to divide on divorce. While every case is different, there are typically only 3 choices for the home.

  1. Award the house to the Wife and she buys out Husband of his interest in the equity in the home.
  2. Award it to husband and he buys out Wife of her interest in the equity in the home.
  3. Order that the house be sold and split the proceeds between the parties.

When selling the home, the proceeds are frequently split on a percentage basis. So for example, Husband may get 50% and Wife may get 50%. The amount of the percentage can vary depending on a variety of factors between the parties. If a party decides to keep the house and buy out the other spouse, this does not clear their credit from the home. To do that, the spouse keeping the home would need to refinance the home. So, if your spouse is keeping the home, you really want them to refinance it into their own name so that your credit can be cleared of the home.

As a San Antonio Divorce attorney, I can review your options with you and examine if there are additional options other than those mentioned above.

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