There are times in a divorce where the parties for a variety of reasons choose to continue to live in the marital residence together after a divorce. Terms for a situation such as this may be covered in any Property or Matrimonial Settlement Agreement. Carrying costs for the marital residence that includes payments for any mortgage, home equity line, property taxes and utlities will have to be apportioned and paid by the parties during this time. Sometimes, in lieu of alimony, payments are made by the spouse having a future obligation to pay alimony. Often, child support and alimony are held in abeyance until the parties are no longer living together. If you have a complicated divorce with issues of continued residence in the marital home with your ex-spouse, call Green & Associates, at 732-390-0480 in our East Brunswick office or 201-242-1119 in our Fort Lee office for a free consultation. Night appointments are available.
Equitable distribution of the property and its equity may wait until after the marital residence is sold by the parties at a time of their choosing post-divorce. Issues such as wishing to maintain the marital residence for the children until they are out of school may be a reason for such an arrangement. A loan modification that prevents the immediate sale of the marital residence may be another reason. Regardless, it is an option for those that find it necessary and may be considered, however unusual, as a way to maintain the economic and emotional well-being of your family for the immediate future.