Des Plaines and Hoffman Estates Law Firm Frequently Asked Questions Video
Is it possible for me to keep my home after the divorce?
It would be possible for you to keep your home if you were divorced, and that would take place one of several ways.
The first way would be that you would buy the other spouse out of their portion of the marital home. In doing that, that would be done either by a taking of other marital assets to offset their marital portion of the family home. Therefore, you are in essence buying them out of their portion of the marital home.
Another way of doing that would be to refinance the house. Especially if there was children involved, the courts often allow twelve to eighteen months to refinance the house and actually buy the other spouse out of their marital portion of the home.