Divorce proceedings can lead to different outcomes depending on the agreements made. Each aspect of the process can come with a myriad of decisions to consider, and one area of family law that divorcing Louisiana residents will likely want to give great consideration is property division. Specifically, determining what to do with the home the couple previously shared may be a priority.
One option that many parties tend to opt for is selling the marital home in order to split the proceeds. However, the proceeds of the sale are not necessarily divided evenly. The terms of the divorce settlement and specific agreements for property division could impact who ends up with what percentage of the proceeds.
On the flip-side of that option, some divorcing couples may choose to both retain ownership of the home. Often, this choice is used simply to put off having to make such a significant decision right away. However, because this arrangement is typically temporary, those involved may wish to plan ahead and determine what financial impacts this decision could have in the future.
There are multiple other options that individuals may also wish to explore when it comes to addressing the family home during divorce. By exploring the options mentioned and finding out more on additional choices, those facing these issues in Louisiana residents may be better able to come to terms with which they feel comfortable. Interested parties may wish to consult with experienced family law attorneys in order to gain reliable information and advice for achieving their goals.
Source: myvalleynews.com, "How to avoid costly housing mistakes in a divorce", Mike Mason, Jan. 28, 2017