There are few things more important to married couples than their homes. When a couple gets divorced, they are often very worried about whether they will have to leave their home, and for obvious reasons. Homes are generally their largest asset, and they are also often extremely sentimental assets. However, the unfortunate reality is that oftentimes, one spouse will be required to leave the marital home in a divorce. Please continue reading and speak with our Los Angeles divorce attorneys to learn more about how courts decide who gets to keep the house in a divorce. Here are some of the questions you may have:
What is equitable distribution?
Equitable distribution is the process by which California courts will determine how property is divided in a divorce. Property is divided into two categories: marital property and separate property. Separate property includes property that was acquired before or outside of a marriage, including inheritances or gifts. That being said, marital property includes all other property that was acquired during a marriage, and marital property is subject to equitable distribution. Houses are almost always considered marital property, which is why if you are getting divorced, there is a very good chance that you will have to fight to keep your home.
How do California courts determine which spouse gets to keep the house in a divorce?
California courts will consider a wide array of factors when determining which spouse gets to keep the marital home. To start, they will consider the duration of your marriage, and they will also consider the extent to which each party contributed to the marital home. Note that this is not limited to financial contribution; for example, if you worked while your spouse stayed home and raised the kids and maintained the home regularly, this will play a critical role in determining which spouse gets to keep the home. Furthermore, courts will consider the standard of living established in your marriage and they will consider each spouses’ yearly income and earning capacity. California courts will also consider the present value of the property, the tax consequences of the distribution to each party, the spouses’ child custody agreement (if applicable), and more. Rather obviously, dividing the marital home in a divorce can be a quite complicated process, which is why if you are looking to keep your home, it is critical that you retain the services of a knowledgeable California divorce attorney who can fight on your behalf, every step of the way.
Contact our experienced Los Angeles firm
Divorce and family law issues are notoriously complicated and personal, which is why you must hire an attorney with years of experience, as well as the compassion and skill needed to handle these sensitive matters. For the qualified, dedicated legal representation you and your family deserve and need, contact Zitser Family Law Group, APC today.