Selling a house after divorce
In complex situations, Fast Cash Houses can work with both partners individually to come to an agreement for the sale of the property and share split.
We have worked in many cases whereby the spouses no longer wish to liaise but they’ve agreed to sell the house. Our legal team and friendly staff help reach a solution that works for everyone. This is a stress and hassle-free option to deal with a very complex situation.
To make things even easier, we pay all legal fees associated with this transaction to prevent any complications and upfront costs from either party.
What happens to the family home during a divorce?
There are usually two outcomes about the family home:
- The property will be transferred into one person’s sole name so they can continue living there.
- The property will be sold and the equity is split following a period of negotiations.
If the court is tasked with making a decision regarding the family home than the final decision will centre around:
- The cost that the home is mortgaged for
- How much equity is in the property
- The needs of both parties & children
(Sharp Family Law)
Do you have to sell your house during a divorce?
If you own the property in your sole name, then you have the right to remain living there and you do not have to sell unless there is an agreement to do so or a court order.
Your spouse may register Matrimonial Home Rights.
Typically, the family home might be sold to release both parties from their obligations within the mortgage and then provide each party with funds to rehouse themselves and their children.
In some cases, the family home has to be sold as there are not enough assets to be shared.
There have been scenarios where the home has been transferred to one party, often where the spouse will buy the other’s share of the property.
How is the house divided during a divorce?
There are no two similar cases for divorce law in the UK. Factors which affect what happens to a house after divorce include:
- Selling the house & splitting equity between you & your spouse
- ‘Buying out’ one partner & remaining in the home
- One spouse living in the home whilst the other receives a sum/retain their ‘stake’ in the house.
- One partner remains in the house until certain conditions are met, such as all children turning 18, after which the house can be sold.
The options available to you will depend on your own circumstances between you and your spouse.
What is the divorce rate in the UK?
The average overall divorce rate in England and Wales is 31.8%, based on all marriages over the past 50+ years between 1964 to 2019. However, the rate changes according to how many years a couple has been together.
For example, of couples who married 50 years ago in 1968, 35.3% had ended in divorce by 2018.
In contrast, 43.6% of those marrying in 1988 had divorced by 2018. And 18.9% of couples married in 2008 had divorced within the first ten years by 2018. (This is down from 20% the year before, so younger couples seem to be more likely to stay together now.)
Can I force a sale of my house in a divorce?
Whether or not it is appropriate for married couples who are separating or divorcing to sell the marital home will often depend on the family circumstances.
The property can be sold if both partners agree, but can a co-owner force a sale of a house and under what circumstances can you force a house sale?
In essence, a co-owner cannot automatically force a sale of a house If the other co-owner does not agree.
They cannot just sell the property without first applying for a ‘force sale of a house court order’, and the court will always take various factors into consideration.
The court will consider several aspects regarding family circumstances, but primarily whether the property is a family home to dependent children.
Other factors include if there would be adequate proceeds from the sale of the home to enable both partners to rehouse themselves, and any children comfortably.