During the process of divorce, the most controversial question would be who’s getting the properties and assets. Most often, the biggest target here is the house because it’s the most valuable asset in a divorce. Aside from the fact that it’s the most priced tangible asset that a couple could have, it’s also the essence of the family and letting it go can be very emotional especially when you have kids.
Does the wife get the house in a divorce? Are there any chances that the husband will have an equal right to the property? Let’s understand how this would work.
What happens to our properties after divorce?
In divorce, your properties will be divided fairly but not always equally between the couple. The basis of the decision will be created under the Equitable Distribution Law. This law will make sure that marital property of the spouses will be distributed justifiably.
One has to know the two types of properties that will be considered here. The first one is what we call the separate property in which the person already has these assets and properties even before marriage and thus will not be affected by conjugal property laws.
Then there are the assets and properties that were acquired within the years of marriage and are called marital property — these are the ones that will be divided between the two spouses.
Understanding how property and debts will be divided
Does the wife get the house in a divorce or will it be split in half? Let’s go deeper into the different scenarios about who has the legal right to get the house or other properties once a divorce has been approved.
Bought properties after divorce- is still considered as marital property?
Most couples who are undergoing divorce fear the fact that all their properties will be split into two. Good news is; whatever properties or assets you buy after you have filed divorce will no longer be a part of your marital property.
Why does the other spouse get more than the other?
The court will not just divide the properties in half, the judge will need to study each divorce case and will consider many aspects of the situation before making the final decision, this may include but is not limited to the following:
- How much does each spouse contribute to the properties? It’s only fair to split the properties such as the house and cars and give the majority of the shares to the person who has invested more.
- If it’s separate property, then the owner would have greater shares of the asset. It only becomes a part of the marital property if the spouse contributed to paying mortgage or has shouldered some repairs done in the house.
- Each spouse’s economic circumstances at the time of the divorce is also put into consideration.
- The spouse who will get the full custody of the children should stay in the marital home; this answers the question if the wife gets the house. Technically, she is the one who will stay in the house with the children not unless there will be legal cases against her.
- The income of each spouse and their capacity of earning may also be put into consideration.
Who gets the house?
Technically, the court might grant one of the spouses the house and this is usually the spouse who will have the custody of the children until they are old enough to decide. Again, there are many things to consider based on the case of the divorce.
What are occupancy rights and how does it affect who gets the home?
If you have heard about exclusive occupancy rights then this means that the court will give one spouse the right to live in the house while the other spouse must find another place to live. Aside from being the spouse responsible for the custody of the children, there are instances where safety is also the priority. Court orders for TRO or temporary restraining orders can take effect immediately.
Who’s responsible for all the debts?
While the hot debate is for who gets most of the properties and assets, no one wants to take full responsibility for debts. The court or your divorce negotiation may contain an agreement as to who is responsible for any debts remaining.
Not unless you co-signed any new loans or credit cards then you don’t have to worry about being held responsible for your spouse’s uncontrolled spending.
However, if you did and your spouse doesn’t fulfill his duties to pay, then you will still be held as equally responsible for any debts that he or she has.
A few points to consider
If you will fight for your right to have the house, it’s best to be able to defend yourself when it’s time to negotiate. Meaning, you have to make sure that you can support your lifestyle and still manage to maintain your home.
Most likely, there will be great adjustments financially and owning a big home may be a challenge. Also, make sure you have enough points to defend why you should get the marital home such as the custody of the children and their education and of course even your work.
Take time to consider all these things before negotiating. Don’t worry about your spouse trying to sell your properties without your knowledge because this is against the law and there are laws prohibiting anyone to sell properties within the course of your divorce.
Does the wife get the house in a divorce even if it’s marital property? Yes, it’s possible under certain conditions. In some cases, where both parties have agreed, the decision may be for the betterment of the children and their education.
Some may just want to sell their rights or make any other arrangements with their spouse and lastly, there are also cases where the court will decide to just sell the house. Be informed with the process and seek advice. Every state may differ that’s why it’s best to get all your facts straight before negotiating. This way, you’ll save time and effort and you will have greater chances of owning the property.