If I want a divorce but we both want the home that we own together, what can I do?

UPDATED: Dec 2, 2011

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If I want a divorce but we both want the home that we own together, what can I do?

We both dont have the money to buy each other out.

Asked on December 2, 2011 under Family Law, Texas


MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

Unfortunately, even if the divorce grants one of you the home, you will still need to be able to have a company refinance it into one of your names. If you don't have the money to buy each other out and the divorce court has not granted the home to one of you yet, you need to figure out if the court is more likely to give it to you or your spouse. If you have children and you are the spouse who will have full custody, then most likely you will have the house. If not, you may wish to meet with your spouse and consider whether it may be viable for you two to rent out the home and split the monies thereof.

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