Just as you may have fond memories of your soon-to-be-ex-spouse, you may also have treasured memories of your marital home in Florida. That said, you do not know what to do with the property in your divorce.
U.S. News & World Report offers options for handling real estate property in a divorce. Explore your options and determine which offers the most favorable fit for your situation.
If you and your current spouse have shared children living in your marital home, you may want to try nesting to avoid moving your kids out of their current neighborhood and away from their school and friends. With this option, you and the other parent rent a shared apartment, with one of you living in the marital home with the kids while the other resides in the apartment before switching. You may prefer nesting as a temporary solution.
Maybe your local housing market does not bode well right now. If not, you may not mind waiting to sell your marital home. You may also prefer waiting if you have shared kids and dislike the idea of nesting. In the meantime, you and your current partner may decide how to divide equity when you sell the property.
Do you feel current market conditions and your plans support selling your marital home sooner rather than later? If so, get an idea of how much you should expect to pay in commission to a real estate agent and for potential upgrades to your home to ready it for potential buyers. Also, figure out how much you may pay in taxes after the sale.
You have several options for sorting out your marital home during a divorce. The next chapter of your life determines which choice suits you most favorably.