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Dispute resolution may assist in handling home during divorce

There are many legal issues that can complicate a divorce. Amongst these is whether the divorcing couple owns a house together. Deciding what to do with a marital home can be difficult, with many options available to the parties involved. In these instances, one party can choose to buy out the other, but the bank holding the mortgage may wish for the buying party to show he or she can still handle the payments.

Another option is for both parties to contribute to paying off the mortgage while one party remains in the home. This may only be a medium-term option, with the ultimate intent of the parties being to sell the home. Should the home sell, the parties may then agree to split any proceeds from that sale.

No matter which option the divorcing couple prefers, it may be easier to negotiate through divorce mediation than to fight for before a judge. Through the mediation process, the parties work with their attorneys and a neutral mediator to reach a final agreement that is fair and as comfortable as possible. Going through mediation may avoid counterproductive arguments and allow the couple to see the issue through the eyes of a neutral third party. This may mean exploring all possible options and discussing how each party would be affected should that option be chosen. With their attorneys by their side, the divorcing couple can then negotiate with each other and the mediator to reach a fair outcome.

Whether a legal dispute arises over child custody, spousal support or property division, choosing which type of dispute resolution to use when divorcing can be a difficult choice to make. Yet, if the couple wants to end on fair, amicable terms, then divorce mediation may be in their best interest. A Maryland divorce mediator may help streamline the process and find a resolution that allows each party to start his or her new life in a positive way.

Source: FT Advisor, "Pros and cons of options for divorcing couples," Emma Ann Hughes, Jan. 2, 2014

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