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Berchem, Moses & Devlin, P.C.
  • Milford 203-783-1200
  • westport 203-227-9545
  • Norwalk 203-853-7997

Delaying home buyout possible when tackling property division

One of the most challenging aspects of a divorce is dealing with the division of assets in Connecticut. This is especially true if the two people getting a divorce cannot agree on how to address property division when dealing with their biggest asset: the marital home. A couple of tips might help the parties tackle the dissembling of the household in as fair a way as possible.

One option when dealing with the family home is to arrange for delaying the buyout of the home by one spouse. In this situation, one spouse stays in the home and keeps monthly payments on the mortgage until he or she is in a financial position to buy out his or her future ex. Sometimes the spouse might decide to stay in the home and continue making payments until the children move out and he or she is finally ready to sell it.

The challenge with the delayed-buyout arrangement is that it can last many years. Thus, there might be several arguments about how the residence is to be cared for in that time period. Another possible challenge is that the person who has remained in the home might start to date someone; whether that person is allowed to move into the home may be a point of contention for the parties to the divorce.

In addition to dealing with the emotions surrounding divorce proceedings, the parties may find it difficult to address property division in a manner that is mutually beneficial. Divorce mediation or direct negotiation, both with the assistance of Connecticut legal counsel, can help reach a satisfactory settlement that appeals to each party. Each party has the right to fight for his or her best interests when dealing with the marital home or any other marital asset.

Source: realtor.com, "How to Divide a House When You're Getting a Divorce", Liz Alterman, June 7, 2016

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Berchem, Moses & Devlin, P.C.
75 Broad Street
Milford, CT 06460
Phone: 203-783-1200
Fax: 203-878-2235
Milford Law Office Map

Berchem, Moses & Devlin, P.C.
1221 Post Road East
Westport, CT 06880
Phone: 203-227-9545
Fax: 203-226-1641
Westport Law Office Map

Berchem, Moses & Devlin, P.C.
9 Morgan Avenue
Norwalk, CT 06851
Phone: 203-853-7997
Fax: 203-866-2818
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