If you own it free and clear, the worst that can happen is that the person who is awarded the house will have to deal emotionally with the memories in that house. And… the person who is not awarded the house may be filled with a festering resentment.
Only you know if these are emotional situations you can deal with.
Meanwhile… If you still have a mortgage on that house, and if both of your names are on the loan documents, the worst that can happen is financial ruin for both of you.
If the possessor isn’t able to refinance the house into his or her separate name, and isn’t able to maintain the monthly payments, the foreclosure will be listed on both of your credit reports – which will prevent you from purchasing another home for about 5 years.
You see, just because a judge awards a house to one party or the other, the bank still holds both of you liable.
Only you know if your financial position is such that this won’t be a worry.
If selling really is the best decision for you, call me. I’ll be happy to show you the marketing plan I use to get homes sold quickly – and for top dollar.
And, if you like, I’ll be glad to meet with each of you separately.
Remember, calling me carries no obligation, so don’t hesitate.