If you and your soon-to-be ex-spouse have a vacation property, you may shudder at the thought of giving it up. After all, even though your marriage is heading for an inevitable end, you love spending time at your getaway. Your current husband or wife does too.
If you and your husband or wife remain on comparatively good terms, you may wonder if it is possible to share your vacation home after your divorce. Provided you and your spouse can get on the same page regarding the property, the answer is probably yes.
Can you come up with a usage schedule?
You obviously have some well-founded reasons for wanting out of your marriage. If you and your spouse are not getting along, you probably do not want to be at your vacation property at the same time. Therefore, it may be critical to come up with a usage schedule for the home.
Good usage schedules set aside blocks of time when one person can be at the property while the other stays far away from it. Your schedule also may indicate when both you and your soon-to-be ex can open the property to your own friends and family members.
Can you set some ground rules?
It also is advisable to negotiate some ground rules for the property. These rules can assign responsibility for maintenance, cleaning, finances and usage. According to U.S. News and World Report, they also may require each of you to keep the property safe. Putting your ground rules in a legally binding document helps to set realistic expectations for you and your ex to follow.
Ultimately, even though continuing to jointly own and use your vacation property may seem like novel ideas, you can probably accomplish your goals with a bit of planning during your divorce.