What Happens to the House in a Illinois Divorce?
For most couples, the family home is their largest asset. In Illinois (an equitable distribution state), there are several options for handling it. The right choice depends on your finances, children, and emotions.
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Talk to AI AdvisorYour Three Main Options
Sell and split the proceeds
The cleanest option. Sell the house, pay off the mortgage, and divide what's left. The court determines a fair split based on equitable distribution factors.
One spouse buys out the other
One spouse keeps the house and pays the other their share of the equity. This usually requires refinancing the mortgage into one name only.
Deferred sale (keep it temporarily)
Common when children are involved. One spouse stays in the home until a trigger event (youngest child turns 18, remarriage, etc.), then it's sold.
Key Questions to Answer
- ✓Can either spouse afford the mortgage, taxes, and upkeep alone?
- ✓Can the staying spouse qualify for a refinance on their own?
- ✓What is the home's current market value vs. what you owe?
- ✓Are there capital gains tax implications? ($250K exclusion per person)
- ✓Is staying in the home truly best for the children, or just emotional attachment?
- ✓What about the other spouse's equity — how and when do they get paid?
Common Mistakes
- ✗Fighting to keep a house you can't afford alone
- ✗Not getting the home appraised (don't trust Zillow for divorce)
- ✗Forgetting to refinance — leaving both names on the mortgage
- ✗Ignoring needed repairs that affect value
- ✗Making emotional decisions instead of financial ones
Every situation is different
Not sure what to do with your home? Tell our AI advisor about your situation and get a clear picture of your options in Illinois.
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Legal Disclaimer: This article covers Illinois divorce law for general informational purposes only and does not constitute legal advice. Laws change frequently. Always consult a licensed Illinois family law attorney for advice specific to your situation.