Laura Dale & Associates, P.C.
Se Habla Español Nous Parlons Français
Call 713-574-7952 or 888-572-6059
888-572-6059

Divorce, property division and keeping the marital home

One of the first questions that some people hear when they speak of their divorce is, "Who gets the house?" It's often one of the first questions the divorcing couples will have, too.

The marital home, especially if the couple has children, can have a lot of sentimental value. Unfortunately, sentimental value doesn't always equal dollars and cents. Before you decide to fight for the marital home in a divorce, you should consider the following questions:

Can you refinance it?

Getting your spouse's name off the home can be difficult, especially in today's difficult real estate lending market. Will you have enough income to qualify for refinancing the home on you own?

Can you afford the upkeep of the home?

Owning a home is expensive, especially when you consider upkeep and repairs. In addition, the home's furnishings may have been split during the property division phase of the divorce. New furnishings will be needed. Perhaps your kids are getting ready to leave the home, too, as they head off to tackle the world. A home with several bedrooms and one occupant may not be the right thing to do.

How is the real estate market in your area?

The housing market is bouncing back after the recession of 2008. It's possible you may be able to sell the home and split the profits. This could give you the nest egg you need to make another home purchase that now suits your needs better.

What about taxes?

Certain taxes, including capital gains taxes, can really wreck havoc on the finances, especially if you're not prepared. Understanding all of the tax implications of keeping the marital home is a must before making your decision.

Divorce has many issues that must be dealt with, even if there aren't children involved. An experienced Texas divorce attorney can provide more information on whether keeping the marital home is truly in your best interests.

Source: Forbes, "Four Questions To Consider Before Deciding To Keep Your Marital Home" Jeff Landers, Feb. 17, 2015

No Comments

Leave a comment
Comment Information

Client Testimonials

  1. Laura Dale the best Family Law attorney I have ever met... Posted by John...Listens, takes your calls, tells you the truth (even when it may not be what you want to hear)... Read More

  2. The Best...Posted by a Child Custody client... Laura Dale handled my international child custody and divorce matter. I am an attorney in Houston and was referred to her... Read More

  3. A Meticulous, Knowledgeable, Attorney with Heart...Posted by a Child Custody client... Laura was not the first attorney that my husband and I interviewed for an extremely complex... Read More

  4. Top Notch, Hands Down - The Best...Posted by Tammi, a Child Custody client... Laura Dale has been absolutely the best attorney I could have found for my difficult child custody... Read More

Contact Our Experienced Team Today | Se habla español | Nous parlons français

Due to the experience our lawyers have in many specialized areas, you can rely on us to put together the right team to handle your case, even if it centers on complex issues such as international family law, business valuation or bankruptcy. Contact us today to make an appointment to discuss your needs with a knowledgeable lawyer.

Laura Dale & Associates, P.C.
1800 Saint James Pl.
Suite 620
Houston, TX 77056

Toll Free: 888-572-6059
Phone: 713-574-7952
Fax: 713-600-1718
Houston Office Location