Equitable property division can be one of the most difficult parts of any divorce, especially after long marriages where a large number of assets have been accumulated. Both you and your spouse may stand to lose a great deal, including the home you shared together during your marriage. Deciding what to do about your marital home can be difficult if both parties are not in agreement over how much the home is valued at.

In a recent article published by the Huffington Post, a smart infographic succinctly lays out how couples can decide what to do about their marital home during a divorce. In summary, it makes the following points:

• If either spouse expresses an interest in keeping the house, they must ensure that they will be able to afford it. If they can, they must then determine whether there are sufficient assets in the marital estate to allow them to buyout the other party. If not, the couple must sell the house and split the proceeds.
• If both parties can agree on the value of the house and the above criteria are met, the party keeping the house gets the asset in his or her column during equitable distribution. If not, a comparative analysis of the home’s value must be performed. If the parties still do not agree on the value of the home, they will have to get it appraised, either together or separately.
• If the parties have gone through these steps and still cannot reach consensus on the value of the home, the matter will have to go to trial.

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If you are considering divorce or have been served divorce papers in Central Florida, contact The Law Offices of Ross & Glover as soon as possible. We are available to guide you through every phase of your divorce, including property division, child custody, alimony, and other matters both efficiently and fairly. Our detail-oriented approach is focused on protecting your best interests.

We have more than 30 years of experience serving clients in Volusia and Flagler counties. You can be confident in our team’s ability to assist you with even the most complex cases intelligently and aggressively. We understand how difficult a divorce can be, which is why we do everything in our power to help you resolve your divorce as quickly and skillfully as possible.