By Robin Roshkind, Esquire, West Palm Beach, Florida
There are several things you can do with your spouse and the marital home if you are contemplating divorce. Given this economy, leave it to the lawyers to offer you options.
1. Find a buyer at any price and let the lawyers assist you with lenders to accept a short sale.
2. Get your divorce and remain real estate partners with your spouse until the market turns around. One of you stays in the home, continues to pay the mortgage, and maintains the property, (you have to live somewhere anyway). Settle it all out at the time of sale years later.
3. Allow the children and one parent to remain in the home until the youngest child reaches the age of majority. Do a split (50/50, 60/40, 70/30) on handling the costs by agreement.
4. Sell the house at today’s fair market value. If you have equity, you will still come away with cash in hand. If not, then a short sale is the way to go.
5. Dump the house and let the mortgage lender worry about it. The bad thing about this alternative is you ruin your credit and that of your spouse.
For more information about the marital home and divorce, click on the Robin Roshkind, P.A. website at www.familylawwpb.com or set an appointment for a consultation with one of the Firm’s attorneys by calling 561-835-9091.