When One Spouse Wants to Keep the House After Divorce in Kenosha, WI
Divorce is rarely simple, especially when the family home is involved. In many Kenosha divorces, one spouse wants to stay in the home rather than sell it — perhaps to maintain stability for children or because it’s a beloved property. But what happens when you need to buy out your ex-spouse’s share or refinance the mortgage into your own name? Let’s break down what that process looks like and what your best options are in Wisconsin.
Option 1: Buying Out Your Spouse’s Share
If one spouse wishes to stay, the goal is to transfer ownership fairly. In most Wisconsin divorces, the marital home is considered marital property, meaning both spouses have an equal claim to it. To buy out your other spouse’s share, you must determine the home’s equity and split the proceeds accordingly.
For example, if the home is worth $300,000 and you still owe $200,000 on the mortgage, the total equity is $100,000. Assuming an equal split, you would need to pay your ex-spouse $50,000 to buy out their share of the house.
This can usually be done through:
- A refinance loan, where you take out a new mortgage in your name only.
- Cash from other marital assets, if the parties agree during the marital settlement agreement process.
It’s smart to work with both an experienced family law attorney and a mortgage professional who can determine whether your income and credit qualify you for a new loan.
Option 2: Selling the Home and Splitting the Proceeds
Sometimes, neither spouse can afford to buy out the other — or you both decide it’s best to make a clean break. In that case, the most straightforward option is to sell the house and split the proceeds.
Here’s how it typically works:
- The divorcing couple agrees on a listing price (or the court orders one if they can’t).
- Once the sale occurs, an escrow company handles the proceeds and marital debts before dividing funds.
- After the home sale closes, both parties walk away with their share as determined by the divorce decree.
If time, stress, or your financial situation make it difficult to list traditionally, a local we-buy-houses company in Kenosha can purchase the property quickly — often within days — so you can finalize your property division and move on without open-ended delays.
Option 3: Co-Owning After Divorce (Rare but Possible)
A third option for some couples considers is post-divorce co-ownership. In this case, one spouse continues making mortgage payments and living in the family home, while both maintain joint ownership until a later home sale. This arrangement can help when children still live in the home or the market isn’t favorable.
However, long-term co-ownership can complicate taxes, maintenance, and the division of marital assets later — especially if communication breaks down. Open communication and a clear written agreement are essential to avoid conflict.
Local Considerations in Kenosha, WI
Wisconsin follows the equitable distribution principle, meaning the court divides marital property fairly — though not always equally. Homeownership, marital debts, and each party’s financial circumstances all factor into how property is divided.
In Kenosha, it’s common to work with both real estate and legal professionals who understand how marital homes are handled locally during the divorce process. If time is an issue or you want to explore fast, cash-based options, a Kenosha home buyer can provide a fair market offer that helps one spouse move forward quickly.
Final Thoughts
Whether you plan to buy out your ex-spouse or sell the property and start fresh, understanding your options during and after divorce gives you more control over your next chapter. The key is to know where you stand financially, get professional advice, and explore the path that fits your life best.
If you’re in Kenosha and wondering how to sell your share of a house in divorce — or if you need a quick sale after your divorce agreement — our team at WeBuyWI can help. We'll review your situation, make a fast cash offer, and handle the heavy lifting so you can move forward confidently.
