Article
A divorce ends a marriage. It does not end the question of the house. The house is usually the largest thing a couple owns, and it is the one they argue about last, because it is the one they have to live in while they argue. There are three ways it usually ends.
Sell it
The house is sold, the mortgage is paid off, and what is left is split. This is the cleanest way, and the one most couples choose when neither side can afford to stay. The sale takes three to six months, and the split is agreed before the sale starts, not after. If the split is not agreed first, the sale becomes the argument.
Buy one side out
One side stays and pays the other side for their share. The share is valued by a surveyor, not by either side's guess. The side that stays needs a mortgage they can afford alone. If they cannot, the buyout does not work, and the house is sold instead. The pension is part of this calculation: a smaller share of the house can be balanced by a larger share of the pension.
Keep it until the children are older
One side stays in the house with the children until the youngest reaches 18, or finishes school. The house is sold then, and the money split as agreed. This keeps the children's week the same. It also keeps both sides tied to the same house for years, and the mortgage, the repairs and the insurance have to be agreed in writing first.
Who decides
The couple decides, if they can agree. If they cannot, a mediator helps them reach the agreement. If that fails, a judge decides, and the judge looks at the same three things: the children's needs, the money both sides have, and what each side can afford. The judge does not care who paid the deposit.
What it costs
The first meeting is where the numbers are done. Bring the mortgage statement, the valuation, and the pension statements. We tell you what each of the three ways costs, and which one fits your numbers, before you choose.
This article is general information. It is not legal advice.