Can We Mediate What Happens to Our Marital Home?

Usually, when you address property division in your litigated divorce proceedings, the Tennessee family court will work based on the equitable distribution standard. Here, the judge may divide your property, including your marital home, in a way they deem fair and just. While you may be comforted knowing the judge will act reasonably, you may feel better keeping this power in your own hands. Well, if your and your spouse’s relationship and stances permit it, you may take these discussions outside the courtroom and work on a marital settlement agreement in mediation. Without further ado, please follow along to find out whether you and your spouse can mediate on how to handle your marital home post-divorce, and how one of the proficient Clarksville property division lawyers at Fendley and Birch can ensure you are agreeing to a suitable outcome.

Can we meditate on what happens to our marital home in our divorce?

Simply put, in divorce mediation, a neutral, third-party mediator will facilitate negotiations between you and your spouse for divorce-related issues like child custody, child support, spousal support, and, namely, property division. The marital home is one of the most common, and arguably the most important, issues that will be resolved at this time. Hopefully, through this alternative divorce method, you may have more flexibility in reaching an outcome that is closely tailored to your family’s needs as opposed to what a judge would order in a litigated case.

For example, you and your spouse may choose between selling your home and splitting the proceeds; allowing one of you to keep it and buy out the other’s shares; or keeping the home in both your names temporarily until your children finish school and/or move out. Specifically, if you land on one of you keeping the home, you must consider that your mortgage lender is not bound by your divorce decree, which may affect your refinancing options and credit obligations. Or, if you are both keeping the home temporarily, you must also clarify who will be responsible for keeping up with the mortgage, taxes, insurance, repairs, etc.

Can I change my mind about property division decisions post-mediation?

You may leave your divorce mediation sessions feeling satisfied with the agreement you and your spouse reached on your marital home. However, when this hypothetical scenario becomes your reality, you may regret your decision after realizing its financial impact. For instance, you may believe you overpaid your spouse when you “bought them out,” or you struggle to make mortgage payments with a single income source.

Unfortunately, though, once the Tennessee family court approves your marital settlement agreement and incorporates it into your final divorce decree, it becomes a legally-binding contract. This means that your property division arrangement may be extremely difficult to change. However, you may have an exceptional reason for challenging it, which the court may carefully consider, such as evidence that your spouse has committed fraud, concealed assets from you, or coerced you into involuntarily signing your marital settlement agreement.

To conclude, please prioritize scheduling an initial consultation with one of the talented Clarksville family lawyers from Fendley and Birch. We would be honored to represent you in your legal case.