The following is a guest post from Tom Ollerenshaw. Tom is a content writer based in the UK, with a degree in Digital Marketing. Tom writes articles for clients in the business, finance, health and property sector. 

The number of divorces each year in Britain (and in the U.S.) is on the rise. When you’re going through a divorce, the emotional turmoil can be huge; especially if you co-own a property or have children. A divorce can be the most stressful and emotionally difficult period that you’ll ever have to face in your life. If you’re wondering what you should do with your property after your divorce, this guide can help.

Splitting Your Major Asset

Both getting divorced and moving home are stressful, so combining these two issues makes everything far worse. A family home is generally considered to be a major asset for both parties and, as a result, it’s often sold in the case of a divorce, with Quick Move now estimating that a family home is sold in 35% of cases. By selling the home, the proceeds can be shared equally between the two partners.

Reaching a Mutually Agreeable Settlement and Moving On

Generally, when going through a divorce, couples have a number of debts to repay, such as loans, credit cards and finance arrangements. As such, selling the house is a good way to pay off these and find a mutually agreeable settlement.

As such, selling the family home creates a good chance to ‘move on’. If agreed by both parties, homes can be sold quickly, leading to not only a financial settlement, but an emotional break from one another. Plus, for many, the old family home simply holds too many precious family memories. By selling, you may find that you stand a better chance of achieving a ‘fresh start’.

As a result, you may find that it’s best to sell your home through an estate agent. This way, you’ll get an agreeable valuation for your home and the chance to move on immediately as soon as it sells. This is a particularly good option for divorces which are not amicable.

Could I Stay?

If your divorce is amicable, then there’s a chance that you could stay in your family home, if that’s what you choose. This will dependent on you either:

1. Paying your partner for their share (if they have one).
2. Or mutually agreeing that you’ll keep the home as part of the divorce proceedings.

Something like this can be complex, so if you’re considering it, ensure to seek specialist advice. This way you can ensure that everything is legally binding when the divorce goes through. Ultimately, you have to make the decision that’s best for you.