In a divorce, who gets the house? Homeownership and Divorce Divorce can raise a lot of concerns. "How about the house?" is one of the most common. A house is not just a couple's most valuable possession, but it's also the one to which they have the strongest emotional tie. Your partner and you agreed that raising children and developing a life together would be the happiest period of your lives. This emotional attachment can make it difficult to let go and give a value to anything. A house's personal value might make it a lynchpin in property distribution talks. We McShanes, divorce solicitors in Newry, list some of the most frequent methods in which the family home is divided during a divorce. Place the house on the market If neither spouse wants to stay in the house, or if neither spouse can afford to stay in the house, you may wish to sell it to achieve the greatest price possible. Because of the moving out process, this may be difficult for families. Everything might feel extremely definitive and "done." However, having the money from the sale is generally preferable to having a huge item that reminds them of their divorce. Buyout A house buyout occurs when a spouse relinquishes her or his stake in the home in return for cash or the prospect of future payment. This frequently occurs when the primary caregiver for the children wishes to remain at home with the children. A buyout has a lot of complexities, so you'll want to engage with a negotiator who can advise you on it if you think it's the best option. Co-Ownership In some cases, neither a sale nor a buyout will suffice. In this scenario, co-ownership for a set period of time could be the ideal option. This will need to be specified in detail. In essence, this will transform your relationship with your spouse into a commercial partnership as “co-owners” of the property.