How to keep your Boston condo in a divorce
Boston Condos for Sale and Apartments for Rent
How to keep your Boston condo in a divorce
Let’s create a fictions scenario:
The atmosphere had been charged all day so when the storm started neither of them was surprised. The husband settled in to read; the wife paced the room unsettled.
“What if,” she said, then paused at the window, watching the snow lash against the panes.
“Okay, what’s wrong honey?” He responded, bookmarking his place with a finger, waiting for a response.
“What if,” she continued, contemplating the unleashing storm, “we got a divorce?”
“Are you angry, disappointed, frustrated, sad, or joking?” he asked in reply.
She turned to then contemplate him. “Does it matter?”
“If we get a divorce, who gets to live in our Boston condo in Beacon Hill?”
A question that must be asked if you’re thinking about a divorce.
In the video below, here are good tips from a local certified divorce financial analyst – if you give up your share of the house, make sure your spouse refinances in his/her name only. Just because you get quitclaimed off title doesn’t mean your responsibility for the old mortgage is relinquished. Qualifying for the refinance is usually a tipping point.
key moments
0:00 How to Keep the House in a Divorce
0:42 Estimating the Value of the House
1:05 Determining the Equity in the House
1:40 Buying out the Spouse
2:38 Looking at other Assets
5:02 Child and Spousal Support
6:55 Renting vs. Owning a House
8:50 Co-owning the House with your Spouse
10:04 Conclusion
