You and your spouse bought a home worth $1,000,000 about 10 years ago, and the value has only increased. When you file for divorce, you want to sell the house and split up the proceeds from the sale.
Your spouse, however, doesn't want to do it. They resist the sale and demand that you consider other options. You're confused. Why would they want to do anything other than the easiest way to divide a home, a way that could give both of you a nice payout since the home's value increased?
While experts do agree that selling is usually the easiest option and that it gives you a clean split with your spouse, there are many reasons that people resist this, including:
- They do not want to make the kids move out of the house.
- They do not want to lose the neighborhood, the neighbors themselves or the community they love.
- They have a strong emotional attachment to the house, perhaps because they raised kids there.
- They have valuable memories of your time there and they cannot move on.
As you can see, it's harder than simply doing the math and selling the home. How do you put a value on the memories of raising your children in the home? How do you think about the sense of loss, even with financial gain, that comes from the loss of that emotional attachment?
If your spouse feels this way, it can massively complicate the process, especially with a high-value home. You must know what legal options you have moving forward.