Home is where the heart is, which is why is it very difficult to consider the possibility of parting ways with your property during a divorce. Setting up the division of property during divorce is always an obstacle that may seem impossible to overcome, especially when both husband and wife are not in speaking terms and are still harboring bitterness against each other. In that case, here are some of the things that you have to look out for when preparing the divorce settlement regarding your property.
How the division of property works?
Any property accumulated during the marriage will be subject to be divided between spouses during the divorce. Therefore, the cars, paintings, home theater system, and the matrimony bed purchased by either spouse the moment their marriage takes effect are up for grabs. Therefore, which property goes to whom does not matter – as long as the division of property is distributed justly according to the court, then that is what the spouses will settle for.
Different ways on how properties are divided during divorce
The most sought-after property that most couples fight about during a divorce case is the house. Obviously, and this applies to every property, the house will go to the person who has paid and owns the house prior to their marriage. Also, the prenuptial agreement made before the marriage will stand, especially regarding about who will gain possession of the house if their marriage ends in divorce.
It is interesting to point out that a parent who decides to bear full custody of their children has a greater chance of getting the house. Child support to one parent is never enough to cover the costs of having the children live with the other parent, which is why the house is commonly granted to the parent with full custody in order to even things out.
If the house is a community property state, then the property will be equally divided between the two of you. This will always be the case regarding state-owned property, regardless of who purchased the house during the divorce or if either spouse is not professionally employed.
Another way in which the house is divided between both couples is by determining the value of property distributed to both couples. For instance, the court granted 50/50 division of property to both spouses, but husband receives five houses while the wife receives two houses. The reason for this is because the area occupied by the five houses combined is equal to the land area occupied by the two houses.
What is the best way to deal with the division of property?
To ensure that you get the most out of your division of property during divorce, it is highly advised to settle the differences between you and your spouse and have a clear air of communication to clarify the terms of your divorce. Although not everybody enjoys a cordial relationship with their soon-to-be-ex-spouse, those who do will find it easier to get the best deal out of the division of their properties. Therefore, find a way to set aside your anger towards your spouse in order to arrange a well thought-out plan to deal with your divorce.
For more information about getting the house during divorce, read the article Who Gets to Keep the House After Divorce?
Article Source: Questions About Division of Property During Divorce