Who Gets The House In My Divorce?
During a divorce, one of the most complicated steps are the division of the assets that the spouses have acquired during the length of their marriage. The house in a divorce can sometimes be held by one party for a particular amount of time. For example, if you have children in high school, often the house will be held by the custodial parent while the children finish high school, so that you’re not switching high schools for the children. That’s the most important thing, what are the responsibilities of the parents to the children? The children are usually the top priority in making a lot of the decisions during the division of assets throughout the process of the divorce.
At the end of that type of situation, the house is often sold and the money divided by the parties on a particular basis that was put in the final judgement of divorce. Then there are the times that the house is sold before, and oftentimes someone will buy the other party out in order to stay there, or the party will say, “When I sell the house, which will be in a certain number of years, you will get a certain percentage of the sale price.”
It is very difficult to say exactly who gets the house in a divorce because there are so many variables that need to be accounted for and considered. For example, if someone purchased the house before marriage, and has been paying the mortgage all this time, that person might want to stay in that house. On the other hand, one of the parties might just want to get the divorce finished as quickly as possible and might be financially sufficient enough to give their ex-spouse the home without question.
The Law Office of Toby Grabelle, LLC is a family and divorce law firm serving Monmouth County and all of New Jersey that would be happy to assist you in legal counsel. If you need quality legal services, contact the firm for a consultation.