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What if my wife wants the house and so do I?

You or the court can arrange for a buy-out; that is, the court would give your wife a specific amount of time, say thirty or sixty days, for her to buy out your share of the marital house. If she were unable to do so during the time period, you would be given the same opportunity. If you could not buy out her share, the house would be sold and the proceeds then divided. This scenario is very common, but unfortunately each spouse is often not capable of affording the house on his or her own. It can be very difficult to come up with the buyout money with such short notice and creditors are not always eager to lend money to an individual in the midst of a divorce.