What Happens to a Mortgage After a Divorce?

You made the decision that it is time to move towards divorce. Now that you are working through the emotional upheaval of this, you have to also consider the financial implications and changes that will occur. Your mortgage is one of them. What happens to a mortgage after a divorce? What can you expect if you are moving in this direction?

Factors That Play a Role in Mortgages After a Divorce

The circumstances of your case will make the most difference in what happens next. At Martin Family Law Group, we work closely with our clients to ensure you know all the legal options available to you when going through a divorce in California. Here are some of the most common scenarios.

One Person Is on the Mortgage

If just one person is on the mortgage, that person is solely responsible for the debt. If that person cannot pay the debt, they may need to move to sell the home to clear the mortgage. The court may consider circumstances in which both parties were living in the home, even if just one person was contributing to the mortgage payments.

You Both Are on the Mortgage

If you are both on the mortgage, a division must occur. It is possible for a quitclaim deed to be used. This would remove one person from the mortgage and make the other solely responsible for the continued payments of the debt.

Parties Selling the Home or Remaining in It

Often, one of the most challenging aspects of mortgage matters after a divorce occurs when one of the parties wants to live in the home while the other wants to sell it. This can happen, for example, if it is the family home that you raised your children in or if you want to move far from the area.

In this situation, negotiations are often a good starting point. If you and your ex can work together to create a solid way forward, the court is likely to agree to that. However, if you cannot, then the court may rule in favor of either party, depending on the ultimate facts in the case. Some of the things that may be considered include:

  • The length of time spent in the home by either party
  • Whether children are involved
  • If the spouse that wishes to own the home has the financial means to do so
  • The implications of a forced sale of the home
  • The short-term and long-term needs of the family

In situations where both parties want to remain in the home, negotiating conditions may be necessary. This can be a very challenging process, even in amicable divorces.

Allow Our Family Law Attorney to Guide You

We are passionate about meeting your needs, and as such, our divorce attorneys at Martin Family Law Group will work hard to ensure your rights are protected and understood. What happens to a mortgage after divorce is very much dependent on numerous other factors. Let our team help you to find out what you can expect. Set up a consultation to discuss your case with our divorce attorney serving Los Angeles. We offer free consultations.