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Buying the family home in a divorce situation in Connecticut

Even when a marriage has gone sour, there may be many positive emotions connected to the family home. One partner of a Connecticut couple going through a divorce may be thinking of staying in the home to raise the children or in which adult children grew up. But there are questions a spouse should ask if he or she is thinking about buying out the interests of the other partner when it comes to a family home. 

The possible deal needs to be treated as if the home was being purchased from a third party. The first thing to clarify is figuring out how much equity is actually in the home. Getting a real estate appraiser to formally appraise the property may be money well-spent in any event, but especially if one partner is thinking about buying the other out. 

Connecticut is an equitable distribution state and as such property is not always split equally. It is also an all property state, meaning the courts have a say in all property both spouses own, including separate property. There are many issues that can come into play when one partner decides he or she would like to buy the interests of the other out when it comes to a marital home. Some of those issues include whether the individual will need to refinance the mortgage, how much the buyout cost will be and whether there was a pre or postnuptial agreement in place that addresses the family home.

A Connecticut divorce lawyer can help such a client find answers to these types of questions. An attorney can help a client to make the best decision for him or herself when it comes to the family home. Since these types of decisions are often accompanied by strong emotions, a lawyer may be able to help a client to see the situation more logically.

 

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  • Hi Yuliana and Attorney Prince, Thank you so much for taking time out of your busy day to meet with me. I really appreciated how compassionate you were while listening to my situation, even through my tears. Thank you so much for sharing such valuable information with me. I left feeling very hopeful that when the dust settles, I’ll be ok.
  • Wendy helped guide us through a very difficult and emotional process and was really able to provide an even and fair account for both parties. It's quite evident in her expertise in this area but the way she was able to make you feel safe and secure in a very insecure time goes far beyond her legal prowess. If the two parties are really willing to cooperate and collaborate, she's there to help gain the best possible solution for all involved, especially if there are children.
  • Regardless of how committed one is to the fact that divorce may be imminent and necessary, it is truly one of the most emotional and stressful situations one can experience. It can also be daunting. Wendy has a remarkable ability to cut through the noise and help you focus on the big picture while drilling down on what is most pertinent to your particular situation., they are a formidable team who work collectively with your best interests in mind.
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