Getting divorced is one of the most challenging of life’s experiences. No matter how common it is, divorce is not easy. This is because it is not just your marital status that changes, your whole life changes. You will end up mourning as you have lost an important relationship. The future you planned has ended.
There are so many things that you need to consider when you are getting a divorce. Doing it yourself can prove to be overwhelming and confusing. This is why you need an attorney to make the process less stressful and simple.
When you file for a divorce, everything gets divided, even your house. We all know a house is not just a bunch of bricks. It’s a place where you lived, had a lot of good and bad memories. Your house represents status, stability, and security. Your house is a sanctuary of peace; however, sharing it with your soon to be ex can be daunting and awful. Staying locked in a room to avoid harassment or violent outbursts is no way of living.
For many people, home is the biggest asset one can have. This is the reason why people fight to keep the house in a divorce. So, are you wondering what will happen to your house? Who will get the house?
In this post, we have listed everything you need to know about what happens to your house after a divorce.
Types of Properties
There are two types of properties when it comes to divorce: marital and separate property.
What is Marital Property?
The marital property can be defined as a property that you purchased with your current spouse. The house can be a martial house if you and your spouse purchased it after marriage or the one you were living in before marriage.
What is Separate Property?
The separate property is a property that either of the spouses owned before marriage. Any inheritance the spouse gets during the marriage is also considered as separate property. In addition, the payments from personal injuries and personal gifts are so separate property.
How the Property is Divided?
One of the most common questions that everyone asks is who gets the house. Well, it depends on several factors like if the house is joint property and where you live.
During a divorce, state law oversees the asset division and property ownership. The state will follow equitable distribution or community property laws. In equitable distribution state, the judge will divide the property justly; this doesn’t mean equally. In a community property state, the assets will be divided between you and your spouse equally.
Additionally, important information you need to keep in mind is the date you purchased the house. No judge can give your separate property to your spouse.
When it comes to making a decision about who gets the house, these factors are considered:
- Financial circumstances of both the spouses
- In the case of the marital home, the contribution of each spouse
- If they have children which parent has the custody of minor children
- Value of martial home
- The marital misconduct of both the spouses
- Source of funds for the martial home
- Age of the spouses
- Mental and physical health of spouses
- Employability and job skills of both the spouses
Divorce Agreement
In order to settle things in a hassle-free manner, you can reach your own divorce agreement. In this agreement, you can divide the marital assets including your house. If the matters are left to the court, the house will be given to the parent with custody of children. This is because the family house is seen as a stable source amongst the divorce. Moreover, it will allow the children to go to the same school and they will not have to make new friends.
The court will have to come up with a different solution if both the spouses can’t afford to keep the house.
Why Is It Difficult to Know What to do With the House?
There are many reasons why it is hard to know what to do with the house.
- The house is a symbol of stability.
- You might be distracted.
- Not knowing for sure whether you can afford the house or not.
- Sentimental values are attached.
Reasons to Keep the House
There are some very good reasons for keeping the house. The selling or keeping the house can be a huge and life-changing decision. This is why you have to be extremely careful when deciding. It is advised that you should know your reasons are sound and keeping the house will be in your best interest.
- Kids- Whether your children are in teenage years or a minor, it will be a traumatizing experience for them. Being forced to move can increase emotional distress. Keep in mind that you have to do what is best for your family.
- Emotional Attachment- Without a doubt, keeping the house is an emotional decision. This doesn’t qualify it as a good reason, though it is an understandable one. Many people put in a lot of hard work into building their dream home. Leaving all this might be difficult as it holds plenty of great memories or there are chances that it might in the family for generations.
- Not so Good Reasons- Some spouses might just keep the house out of spite, greed, or vindication. They might even want to keep the house because they want control over things.
However, whatever the reason, you should let emotions cloud your judgment. Though it might be easy to understand why it is hard for you to leave, you have to do what is best for you in the long run.
Hence, it is best to hire an experienced and knowledgeable attorney for all legal matters. If you are in search of a qualified and skilled attorney for family law Akron, we are an ideal option. We have a team of experts who are willing to help you make the right decision. If you want more information, feel free to contact us.