Lisa L. JohnsonAttorney at law
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Divorce And Family Law Issues

Lexington Kentucky Family Law Blog

Property division in divorce and emotions do not mix

Ending a marriage is typically a challenging process for all parties involved. Kentucky spouses may struggle to keep emotions at bay. However, decisions made at this time will likely have a post-divorce impact, and a clear head is required. Property division can be particularly difficult, especially when it comes to the family home because both parties may have an emotional attachment to it.

There are typically three options for dealing with the family homeĀ -- it can be sold and the profits shared, it can be kept or one spouse can buy the other spouse's share. Each option will need careful consideration. Selling the property can be the option that makes sense, but aspects to consider include commissions to real estate agents, closing costs and transfer fees. Furthermore, costly repairs or renovations may be required to get the property market-ready. All these costs will reduce the amount each spouse will share after division.