Colorado Divorce Who Gets the House

*Over the past few years I have helped many couples who have decided to divorce. In a Colorado divorce who gets the house? A question I hear a lot. Hopefully this article and following advice will help you navigate this difficult time in your life.

The answer to who gets the house can go many different ways. It also depends on if you are amicable or if this is a little more contentious. I have most definitely seen it go both ways. I have see moms stay in the homes with their children and vice versa. For the most part couples decide to sell the home and the courts decide how proceeds are split.

One thing to know is that the term equitable does not automatically mean half. Colorado is a equitable division state but equitable will be determined in the courts if you choose for it to go that way. This means the courts will look at things such as who put how much into the home in the beginning. What partners have been doing to contribute to the mortgage. What 401K accounts look like etc. The courts will look at current finances and what happened during the marriage to make those finances flourish or not flourish etc.

So as you can see the answer in not clear.

If you decide to sell the home, you can amicably decide how the split goes or have the courts decide.

What Happens If I Do Get the House in a Divorce

Quite often a home still has a mortgage on it. So you won’t be getting a home outright. Here is how it can roll if you do get the house.

  • Buy Out – One buys out the other – Allowing the buying spouse to retain the home while acquiring the other spouse’s equity and mortgage debt.
  • Maintain Joint Ownership – Both parties may decide to keep the house in both names. One may allow the other to live in it and pay them a share of “rent” or you may decide to both get new homes and rent the current home out.
  • Courts May Decide – If you can’t come to a amicable agreement the courts may decide what it looks like for one partner to keep the home.

You will need to be able to afford to keep making payments on the home if there is a remaining mortgage.

Can You Sell the Home Prior to Filing

If you both agree that selling is the best option you will need to also agree on a split.  If you can do this amicably and fairly then you can sell prior to filing for your divorce or even while waiting for the divorce to finalize. This can often be the easiest way if everyone agrees.

If there is a dispute you can still sell the home and hold the funds in escrow (meaning neither partner has access).  The funds can then be released once the court has made a final ruling.

You can also just wait it out until the final ruling is made and then use the court papers for distribution of funds purposes.

It is important to consider a few things if you do decide to sell

  • Do you both have places to move too or can you arrange new places by the time the home sells?
  • Is it a good time in the market right now to sell or are you better waiting a month or two until everything is finalized?
  • Can you both agree to a realtor who is impartial and will help guide you equally through the process?
  • Do you have separate bank accounts to make sure your funds are moved to your account at closing and aren’t held hostage?
  • If you have already hired a lawyer, what is their advice?

Colorado Divorce Who Gets the House – Getting Help

Are you in need of realtor advice whether it be getting a value or deciding when to sell?  Be sure to pick a realtor that has worked with divorce couples.  It takes a specific skill set.  Someone who has worked several divorces will also be able to help guide you through the process, laying out all your options.  They will be able to answer tricky questions and fairly guide both of you through the process.

Here is a five star review from a client I just worked with.  If you are getting a divorce and need steady guidance through the real estate journey, I would love to help.

Haley Offers Confidence and Professionalism When Buying a Home

I’ve known Haley for over eight years – we originally met through a professional women’s group I founded. When we met, Haley was a “baby realtor” just starting out, but even then, she impressed me with her vision and savvy. When I recently went through a divorce, which required us to sell our family home and purchase my first place in my own name, I immediately called Haley to handle both transactions. She was able to sell our marital home swiftly through her investor network despite significant structural work needed. Her connections led to an all-cash offer and flexible closing, allowing me to purchase a new home without delay.

Haley’s professional, high-touch service was invaluable, with almost daily communication. She patiently answered all my questions, carefully addressing and alleviating all my money questions – which was super important as I moved on from a financially abusive ex-husband. Her practical expertise also helped me negotiate a mortgage buydown to reduce my initial payments and secure a price reduction due to the property’s time on the market. She guided me on all expenses, ensuring I felt secure and confident.

This Aussie Realtor’s unique charm and professionalism are unmatched. Haley played a significant role in my journey toward financial independence, and I highly recommend her to anyone seeking a dedicated and supportive realtor.

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This is not legal advice, please see a legal professional if needed while getting a divorce. Have more questions about Colorado Divorce Who Gets the House? This may be helpful.

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