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Learning About Legal Jargon

Hello, my name is Solomon Rew. I would like to use this site to talk about legal terms and definitions. The legal world is filled with jargon that can confuse and frighten the average person. The information I share should help people who are facing a civil or criminal case in court. When I ended up in court to fight for compensation for my injuries, I was disturbed to hear all of the jargon flying around the room. I did not understand much of those proceedings until I asked my lawyer to explain. At the next visit to the courtroom, I was prepared since I spent time studying legal terms. My site will help people prepare for court appearances of all kinds. Please visit often to learn and memorize the meaning behind legal jargon.

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How To Divorce When You Own A House Together

7 September 2017
 Categories: Law, Blog

It was 10 glorious years before your marriage started to get rocky. All of a sudden, you no longer feel the same love that you have with your husband or wife when you first met. All of a sudden, it's not working anymore. You start to fight all the time and mostly about shallow things. One day you just woke up and you wanted out of your marriage. You wanted to get a divorce. But getting a divorce does not only mean that you will be legally separated, it also means that you must decide on what to do with everything that you have acquired together while you are still married. This is the tricky part.

One of the biggest assets that couples acquire when they get married is a house. Hiring a divorce attorney is a great idea to make this entire process go faster and be less stressful. A divorce attorney will provide you options on what to do with your house.

If you both fully own the house, the best solution is to sell it and split the profit equally. If one wants to continue living in the house, then he or she will pay the other its corresponding worth.

If the house is not fully paid for, then you are faced with these options:

  • Continue house payments by having one take over and eventually own the house. This option is applicable if one spouse wants to keep the house. This will ensure that the other spouse will no longer be liable for any mortgage payments. However, the one keeping the house will need to qualify first to refinance the home mortgage with only his or her income.

  • If the mortgage payments owed is higher than the house worth, you divorce attorney can advise you to either short sell the house, rent it or continue to live together until both are able to pay for the house mortgages.

  • Renting the house is a better option than short selling it. This will give you enough time to raise more money and delay the sale of the house. However, you and your spouse will now share the responsibility of hosting the house.

  • Last option is to continue to live together. This is not a popular choice especially for those marriages that did not end in a positive way. This will, however, buy you some time until you are able to sell the house for a better profit.

For more information, contact companies like Grafton Law Office.