Often, the most significant property to divide in divorce is the marital home. Should you get the house? Should your spouse get the house? Or maybe you should sell it and split the proceeds with your spouse?
Typically, married couples build equity in their marital homes during their marriage. One spouse may buy the other spouse out, or the couple may sell the home and split any profit.
Because couples more often than not buy houses these days based on two incomes, it is not uncommon for neither spouse to be able to make the mortgage payment on their own after the divorce. For this reason, the courts are seeing a rise in couples either deciding or being ordered to sell their marital homes. If this is your situation and you are contemplating divorce, arm yourself with this information and make a plan based on your own finances and equity in your home.