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"Exclusive Possession" vs. "Exclusive Occupancy"

All divorces must deal with the question of how the marital residence is to be handled. Whether you own or lease the property, the difference between getting exclusive possession or exclusive occupancy is substantial. If the divorce terms give you exclusive possession, you obtain the right to stay in your house or apartment. If you later want to sell it and move, to rent it out or sublet it, you have the legal right to do so. On the other hand, with exclusive occupancy, your rights to the premises are intact only for as long as you live there. So exclusive possession confers a broader array of legal rights, but will have to be negotiated by your attorney. Which of these two arrangements is most suitable for you will depend on many factors, including the value of the total asset pool that is being divided up.

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