People preparing for divorce often have a lot of questions. They are unsure about financial support and the rules that apply to custody matters. They are also frequently concerned about the outcome of property division.
The assets that they acquired throughout the marriage may represent the vast majority of their personal wealth, and they may worry about losing those assets when they divorce. The marital home may represent hundreds of thousands of dollars of investment.
It is common for people to worry about the possibility of losing the home where they live when they divorce. Who typically retains a marital home after a divorce?
Many factors influence property division
Whether the couple attempts to file an uncontested divorce by settling their own property division matters or they litigate in family court, there are numerous considerations that can influence the final decision about who keeps the house. Equitable distribution rules typically give both spouses an interest in the home.
If one spouse has a pre-existing connection to the home, that can be a factor. If one spouse inherited the home or purchased it before the marriage, they may have a stronger claim to retain the home during the divorce. That does not necessarily mean they can keep all of the equity in the property. Typically, spouses use marital income to maintain the property and pay the mortgage. Therefore, at least some of the value is likely part of the marital estate.
In scenarios where spouses acquired the home jointly during the marriage, the main considerations include the ability to afford and qualify for a mortgage, whether a spouse can maintain the property on their own and the custody arrangements for their children. In many cases involving minor children, the parent who has the children for more overnight stays may have a stronger claim to stay in the home. That arrangement optimizes stability for the children.
Spouses always have the option of reaching their own arrangement regarding both possession of the marital home and the distribution of their home equity. When they cannot reach an amicable settlement through cooperation, then a judge reviews the situation and makes determinations based on their understanding of the family’s circumstances.
Honestly evaluating family circumstances with the help of a skilled legal team can help people better predict who might stay in their marital home after a divorce. The spouses with more custody, better financial stability or a longer history with the property may have a better chance of retaining possession.