Many married couples have made the decision to buy a home. A family home often makes up a large portion of a couples assets, and it can be difficult to divide in the event of a divorce. Deciding what to do with a home during this period can be challenging and will likely have a significant impact on their future. Individuals in Alabama who are facing a similar situation may find that there are only a couple of viable options available.
One option is to sell the house and pay off any related debt, such as a mortgage. In an ideal situation, a person can make a profit from the sale, but this may vary depending on the local housing market. In some cases, he or she may still owe on a mortgage even after the home is sold. Knowing the value of a home and how much is owed is advisable when facing negotiations.