Divorce

The division of a home during a divorce can depend on various factors, including the laws of the state in which the divorce is taking place, the ownership structure of the property, and the specific circumstances of the divorce.

If the couple purchased the home jointly during the marriage, then it is generally considered to be marital property, and its value will need to be divided as part of the divorce settlement. Depending on the laws of the state, this could mean that the home is sold and the proceeds are divided between the spouses, or that one spouse buys out the other's share of the home's equity. In some cases, a judge may order the home to be sold and the proceeds divided, particularly if neither spouse can afford to maintain the home on their own.

If one spouse owned the home before the marriage, it may be considered separate property, and the spouse who owns it may be able to keep it after the divorce. However, if marital funds were used to pay for the mortgage or make improvements to the property, the other spouse may be entitled to a portion of the home's value.

It's worth noting that the specific details of property division during a divorce can be complex and depend on a variety of factors. It's usually best for the spouses to work with their respective attorneys to come to a fair and equitable agreement.