What Are The Deciding Factors To Who Keeps The House During A Divorce? 

Divorce is really a tiring procedure for a couple to undergo. It is common for someone going through a divorce to worry about keeping the home they used to share with their spouse. One of the most critical events in life is purchasing a house. And when you have lived that moment, it has an emotional attachment. Thus, it is normal for both spouses to want to maintain it. If you want an expert to handle this sensitive matter in your divorce process, get in touch with a good Huntsville divorce attorney. 

When Can A House Be Called As A Marital Property?

In a situation like this, there is a most critical question to ask. When was the home purchased? If it was purchased after the couple’s marriage, it is considered marital property and will need to be divided with the other assets throughout the divorce process. If it was bought collectively by the couple, then it is definitely marital property. Both parties get an equal share of the property in such a situation. In some situations, the couple divides up the property based on what they like and what works best for them.

If a couple has two houses, they can settle on who gets to keep which house rather than dividing both houses equally. Couples that are going through a divorce and are unable to agree on who should keep the house choose a contested divorce. The court will analyze the situation and decide for them. They have no say once the court has ruled on the decision. 

What Are The Factors To Determine The Ownership? 

• How Much Each Individual’s Equity Is: 

Proper division of the home’s ownership occurs during a divorce. If one couple desires full ownership of the house, they will need to make up the equity imbalance by giving the other partner something in return. Both partners have to give up on one thing or the other to gain something from each other. This ensures the proper division of the assets. 

• Who Gets The Child Custody: 

The court may give the spouse who receives the child custody from the marriage the property ownership. The ownership of a property could also be considered a part of the child support that either spouse is required to pay. The child needs a home to stay in, and whichever parent gets custody of the child can get custody of the house, too.

There are also cases where neither party has to give up ownership of the house. Instead, they can wait for the home to be sold and get their cut of the price it was sold at. The court will consider every aspect that could play a part in determining the outcome of a property ownership case