It is very common for divorced couples to sell their family home. They may be co-parents who are raising children in that home together. But the divorce has changed their plans and so they sell the house and move on.
One of the major reasons that people do sell the house is so that they can split up the money that they earn. It’s one of the easier ways to divide marital property. But there are situations in which it may be beneficial for co-parents to keep the home even after divorce.
The custody arrangement
For one thing, couples may use a custody arrangement where that home is important. An example would be birdnesting, which would allow the children to keep living in the same house, just as they were during the marriage. The parents could then move in and out of that house, living elsewhere when they didn’t have custody. Couples who use this arrangement need to have a central home for the children anyway, so keeping the family home makes sense.
Selling at another time
In other cases, people will keep the family home temporarily. A couple may realize that they would make much more money if they sell in the next few years, for instance. They may decide to share the costs of keeping the house and renting it out, just so they can sell and maximize their profits in the future.
They may also decide to keep the home for a short time if the children are close to graduating from high school and the parents don’t want to make them move right away. One parent will keep living with the children in that home until graduation.
These are just a few things to keep in mind when dividing marital property. Couples need to make sure they understand all of the options at their disposal.
