Kentucky residents may want property division options for homes
Divvying up property during a divorce can be one of the more contentious aspects of the process. During property division, there may be certain assets that Kentucky residents would rather hold on to than see go out the door with their ex. The family home is often one piece of property that needs consideration and negotiation.
If an individual does not wish to keep the home, he or she may broach the idea of selling the property entirely. If sold, the individuals could then potentially split the proceeds during property division. Of course, the settlement and division terms could impact how the proceeds are divided, so it may not be an equal split of the money.
If the other party does not want to sell the home, the individual not interested in keeping it may offer the other party the opportunity for a buy out. In this case, the party who wants the home could negotiate a monetary amount with the other individual that would compensate for the other half of the home. If a monetary settlement is not the most desired option, negotiating and compromising using other property may be an option to consider.
When it comes to property division, there are often a variety of techniques that individuals could utilize in hopes of gaining the outcomes they desire. If Kentucky residents are interested in exploring their options, they may wish to fully assess their particular circumstances and determine how they may best move forward. Additionally, experienced family law attorneys could help interested individuals determine what strategies may work in each case.
Source: myvalleynews.com, “How to avoid costly housing mistakes in a divorce“, Mike Mason, Jan. 28, 2017