Nicaud & Sunseri Law Firm, LLC
Southshore: 504-662-9596
Northshore: 985-218-0494

Making The Complex Understandable

Before you ask for the house in a divorce, do your research

When divorce is in your future, one of the key factors to determine is what to do with the family home. Many people have emotional attachments to their home. However, they will have to decide what to do with it based on financial factors and set emotion aside.

The first step is to request a preliminary title report from the county recorder or a title company. This will tell you how the ownership of the property is listed. If you and your spouse bought it after you were married, it's marital property. However if your spouse owned it prior to your marriage or inherited it, it is likely separate property. The title report will also tell you if there are any liens against it.

You should also find out how much the home is worth. You can get a general idea via websites like However, it's better to talk with a real estate agent or hire an appraiser to give you the value in writing.

You then should determine how much equity you have in the home. Do you have a mortgage or have you taken out a home equity line of credit? If so, these liabilities need to be subtracted from the home's fair market value to determine how much of an asset the home is.

Once you know how much the home is worth, you need to determine what you want to do with it. Of course, if the home is in both your and your spouse's names, this something that you'll have to work out. Generally, there are three options:

-- The spouses sell the home and split the profit.-- One spouse buys out the other's share.-- The spouses continue their joint ownership.

Sometimes couples will choose the last option, at least for a time, if they have children whom they don't want to uproot.

If you want to assume full ownership of the home, it's essential to determine whether you can afford to do so. Besides the mortgage, can you afford the insurance, taxes, maintenance costs and homeowner's association fees? If this your choice, it's wise to get a thorough inspection to determine if there are any costly maintenance issues in the near future.

Your Louisiana family law attorney can advise you on all of these issues and likely can recommend specialists in your area who can help you.

Source: Huffington Post, "Moving On From The Marital House," Kira Gould, Feb. 25, 2016

No Comments

Leave a comment
Comment Information
Serving Orleans, St. Tammany, Jefferson, St. Bernard, Washington, St. John the Baptist, St. Charles and Plaquemines Parishes
Email Us For A Response

Get Answers Today

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Metairie Office
3000 18th Street
Metairie, LA 70002

Phone: 504-662-9596
Fax: 504-833-2843
Metairie Law Office Map

Covington Office
7020 Highway 190 West Service Rd
Suite A-104
Covington, LA 70433

Phone: 985-218-0494
Fax: 985-624-9698
Covington Law Office Map