Selling Real Estate Due To Divorce

In addition to the emotional toll of a divorce, there can be financial consequences as well. One of those often involves having to sell real estate.Deciding whether to sellWhether or not you have to sell your home during a divorce can depend on a number of factors. For example, if you have children, a judge may determine that it’s best for them to stay in the home along with the custodial parent. If one spouse bought the house and the other spouse’s name is not on the deed, that spouse may have less of a claim.Options for sellingThe best and easiest way to sell the home is for one spouse to release his or her claim in the home by filing a quitclaim deed. If both names are on the mortgage, then the spouse remaining in the home will have to be able to qualify for a mortgage on his or her own salary and also be able to pay the spouse who is leaving his or her share of the equity.The most common outcome of a divorce, however, is that the couple that is splitting up will have to sell the h
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