Continue Co-owning Family Home After Divorce
- Highlights
- A divorcing couple wanted to continue to co-own their home until their kids graduate high school. Scott Levin asked thorough questions to understand the family dynamics. As a result, he drafted a thoughtful agreement for co-ownership that will stand the test of time for years to come.
- Scott ensured the couple was able to divorce amicably without going to court and created a settlement that focused on the best interest of their children. He saved them time, money and stress. And by doing so, the couple entered their next chapters committed and capable of being the very best co-parents to their children.
Case Details
Tom and Lisa* are loving parents whose school-aged children are always number one on their priority list. Lisa’s income was steady whereas Tom was in a career transition with uneven income. The couple owns a home with some equity and a very good interest rate, and both their names are on the title and loan. Their goal was to avoid selling the home, and instead keep the property so the kids would always live in one place to maintain stability. Tom and Lisa wanted a flexible parenting plan so each of them can spend quality time with the kids and wanted to avoid paying each other directly for support, and instead, split child costs equally.
Scott, Tom and Lisa work together as a team and explore creative ideas to keep joint ownership of the home. As a result of these conversations, they agree that Lisa will live in the house and pay the bills. They will both own it and stay on the loan until their youngest graduates high school (unless they both agree beforehand to a change). They agree to share the equity equally when they do mutually agree to change the joint ownership.
Results
The mediation was successfully concluded in six weeks. The court approved the settlement with the creative co-ownership, as well as parenting, asset division and support. Tom and Lisa are ready to move forward as aligned co-parents dedicated to the best well-being of their children. And they have Scott to thank for the amicable and successful divorce.
“Scott is an incredible mediator who is not only skilled at providing you with information about your legal rights, but is equally a patient and caring human. Scott will help guide you from the initial steps to the very end. Having him as our mediator really helped us sift through every part of the divorce agreement in a way that was easy to understand and digest. If you’re in this unfortunate position, Scott’s knowledge and guidance will help make it a little easier.”
*Names changed
