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Who gets to keep the family home in a divorce?

On Behalf of | Feb 28, 2024 | Blog, Divorce

Divorce can be a challenging process, especially when it comes to dividing complex assets. In particular, you and your spouse might be uncertain about what will happen to the family home.

Figuring out who gets to keep the house can be a difficult challenge, often influenced by various factors such as child custody arrangements and the preferences of the children involved. Knowing what goes into the decision can help you and your soon-to-be ex-spouse navigate the situation effectively.

The impact of child custody

One significant factor that can influence who keeps the family home is child custody. When there are children to consider, courts prioritize their well-being above all else. In many cases, the parent who receives primary physical custody of the children may also keep the family home. This decision aims to provide stability and continuity for the children, allowing them to remain in a familiar environment during a period of significant change.

Consideration of the child’s preferences

The preferences of the children themselves can also play a role in determining who keeps the family home. While the ultimate decision rests with the court, judges often take into account the desires of older children. If a child expresses a strong preference to stay in the family home with one parent, the court may take this into consideration when making its decision.

Financial considerations

Financial factors also come into play when determining who gets to keep the family home. Courts may consider each spouse’s financial situation, including their income, assets and ability to maintain the home independently.

Negotiated agreements

In some cases, divorcing couples may be able to reach a mutually agreeable solution regarding the family home without court intervention. Through negotiation and mediation, spouses can work together to come up with a fair and equitable division of assets. This approach allows couples to maintain greater control over the outcome of their divorce and can often lead to more satisfactory arrangements for both parties involved.

Colorado is an equitable distribution state, meaning that the fate of the family home may depend on what the court views as the most fair and equitable outcome. However, you and your soon-to-be ex-spouse can work together to find a solution that works best for your family’s unique situation.