When Texas couples decide to divorce, one of the biggest issues with which they might have to contend is how to divide their property. The family home is often the largest single asset that a couple might own. When one spouse is presented with the option of remaining in it, he or she may wonder whether or not doing so is a good choice.
When people are married, they have the benefit of having both of their incomes on which to rely. When they divorce, each must learn to live on one income. This is an important factor for a person who is considering staying in a home to think about. People should look at their finances and decide whether or not they can truly afford the house on their own, considering the mortgage, property taxes, maintenance costs and the utilities.
While every situation is different, it may be a better option for some people to opt to sell their houses and split the money with their spouses. They can then use their part of the proceeds to purchase a house or condo that is more in line with their financial conditions as single people. This might help them to free up money to save towards their retirement or to allocate toward other expenses.
Property division is complicated in a divorce because finances vary from couple to couple. This means that there is no answer that is right for every person who is divorcing. People who are getting ready to divorce might want to consult with a family law attorney for advice on how they might handle the division of their property.