Sometimes, holding onto a family residence in a divorce is not the best option for either spouse or any involved children. In these situations, it is often necessary for custodial parents to find a new home in which their children can live, even though this type of transition can act as a significant disruption in a child’s life. In other situations, a spouse might be financially unable to keep the home on his or her own. There is some helpful advice, however, that parents can follow to determine whether they should keep their home following a divorce.
Give Children Time to Adjust
As is true with most substantial life changes, children need time to adapt to new surroundings. It is not reasonable to expect children to immediately be comfortable with moving to a new place, particularly when doing so requires the child to give up the friends and comforts they had previously known.
Understand Laws Concerning Post Divorce Relocation
Parents who plan to move away from their family home should understand the applicable relocation laws. Courts in Georgia have consistently emphasized that each relocation when a child is involved must be considered on an individual basis and take into account all of the relevant facts to determine how matters are likely to affect a child. To navigate these issues properly, it is often beneficial to obtain the assistance of an experienced family law attorney.
Receive a House Appraisal
If one spouse decides to keep a house after being granted child custody, it is often a wise idea for the other spouse to have the residence appraised. Receiving an appraisal helps to make sure that the spouse who is leaving the residence will receive a fair amount of assets in exchange for giving up this interest.
Remain Positive Throughout the Process
Even if there are unanswered questions concerning the relocation, it is critical to make sure that children view the move as a positive event. At the same time, however, it is important to remain honest about the obstacles that the children are likely to face as a result of relocation.
Maintaining Equity in a Property
To keep a home following a divorce, one spouse is sometimes required to purchase the other spouse’s equity in the residence. This can involve a cash payment or giving up other jointly owned assets. It is sometimes possible to refinance a home mortgage for an amount that exceeds the mortgage balance, in which case these proceeds can then be used to pay the other spouse for equity in the residence.
Speak with an Experienced Divorce Attorney
There are a number of complex questions that can arise after a divorce. If you or a loved one is faced with such a challenge, you should not hesitate to speak with an experienced attorney. Contact Vayman & Teitelbaum P.C. today to schedule a free case evaluation.