What happens to my home if I separate from my spouse?

Question

What happens to my home if I separate from my spouse?

Answer

Parties (or the Court) will most frequently sell the home and split the proceeds equally. However, if one spouse owes the other a payment to finalize their separation it will often be paid out of their share of the equity.

Selling the matrimonial home allows spouses to establish a clean break and allows them to acquire housing that is consistent with their post-separation financial reality. Another approach is for one spouse to purchase the interest of the…