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What to do with the house during divorce

Selling a house can be a very stressful process for anyone. Add divorce into that mix, and it can be downright scary. When a couple divorce, the two often have to decide what they will do with their house. There are several routes that these individuals could take.

The soon-to-be-exes may decide to keep the house. This may be a good option if they are divorcing during difficult economic times. Another option is having one spouse buy out the other spouse. In a lot of cases, spouses decide to just sell the house so they can both end up with some liquid assets.

When is a good time to sell? Although March and April are very good times to sell because a lot of relocations happen in May, a house can be sold any time of the year. It is true that the winter can be challenging when it comes to selling a home, but it can be done. A lot of times people who are looking to buy a house do not want to go through the moving process in the middle of winter. That being said, a lot of houses are still sold between Christmas and New Year's, according to one realtor.

Although in many cases the money from the home is split 50-50, there may be some circumstances that change how the money is distributed. Both spouses also have to be involved in the sale of the house, unless one of them wants to opt out of participating in the process. That spouse will then have to sign off on that decision. It's important to work with your lawyer in order to determine the best option for you.

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