It is almost certain that, for most couples, the family home is the most valuable asset they own. When a Texas couple decides to divorce, it may be that one spouse wants to keep the home after the divorce, either based on overall property division or through buying out the other spouse’s shares. Most couples sell the home and share the profits, but the big question is, should they sell the home before or after the divorce is final?
Selling prior to divorce
Some couples may simply sell the home before the divorce and split the equity. They use the funds for their new, independent lives, making a clean break with the past. There is one moot point, however. Selling the home before the divorce can actually delay the divorce process in a divorce that is still active. This is especially true if there are a glut of homes on the market or if it’s a buyer’s market and selling the home means a couple — who may really be at odds with each other — will need to spend extra time together packing and signing papers.
Selling after divorce
By waiting to sell the home until after the divorce becomes final, couples have the time to sit with what the divorce is actually going to mean. Intense feelings may have settled down, which could mean a former couple might actually be able to work together to get the house sold, but each case may be different. One drawback to waiting is that there is no clean break when the divorce becomes final.
For some Texas couples, divorce became the only option for a myriad of different reasons. However, there is no cookie-cutter way of doing things when it comes to the division of certain marital property. Although state laws must apply, a couple can decide what is right for their particular scenario.