Once both parties have agreed they want to dissolve their marriage, there may still be many decisions to be made. One part of a marriage that can slow or interfere with the divorce process is the fate of the home a couple has shared. In Pennsylvania, disagreeing over the fate of perhaps the most valued piece of marital property can prevent both parties from moving forward as quickly as they would like.
If both parties agree to sell the marital home and walk away from it entirely, the process may be smoother, but it can still take time. That process still may also require the couple to work together. The couple may have to decide what price to list the house, how to go about open houses or showings and also how to split any expenses they incur from trying to list or market the home.
If one party wants to keep the home and other wants to walk away, this can be smooth or this also may delay the divorce. This process can impact the finances and taxes of both parties also. The one who keeps the home may have to refinance in order to afford to keep it or as a way to get the home in their name only.
A Pennsylvania couple who has a home together may find working out the details before a sale benefits both parties as they move toward divorce. An agreement reached between them before the house is technically put on the market or names are changed on deeds can help minimize conflict. The earlier the fate of a home is decided, the sooner individuals can prepare for the next step in their lives apart. In the unfortunate event that they cannot agree, litigation in family law court may become an appropriate course of action.
Source: newsday.com, Your Finance: Divorce and the marital home, Geoff Williams, Oct. 11, 2013