Your divorce lawyer in Whitby may suggest that you sell your home. At first when your divorce lawyer in Whitby area suggests selling your home, you may be taken back. It can be tough advice to hear but it is very valuable advice that you should heed.
Why Would You Sell?
There are quite a few repercussions that happen with a divorce. There are emotional repercussions and financial repercussions to name a few. No one goes into a marriage planning for divorce, but it happens, quite a bit. Once you have decided to divorce you have to change how you look at the property that belongs to both parties. Selling makes the most sense when:
- The house payment is more than one party can pay on their own
- There is a lot of co-debts involved
- The house is simply a reminder of the failed relationship
One of the best reasons to quickly get rid of a joint owned property is to put the memories behind you and start moving forward. It can be a fresh start that gives both of you the opportunity to move on.
You Can’t Afford It
Whether there is going to be a settlement involved in the divorce or not, if you are standing your ground about keeping the property, be sure that you can comfortably afford it on your own. Keeping the property can mean plunging yourself into financial stress.
There is a Lot of Debt
Paying off the joint debt is critical to a fresh start. Unfortunately, many people find out the hard way that once they are divorced from their partner, getting them to pay their share of debt is nearly impossible. Selling the property means paying off the debt and being free from it. R.W. Carr Investment Co can help.
