How do you divide the house when you start divorce proceedings?

Question

How do we divide the house we are currently living in once we start divorce proceedings?  I do not want to lose on what I'm entitled to get for the house.  I would like to sell if I can't keep it.

Zephyr Hill · Answer

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George Seide · Answer

One can buy the other out, or it can be sold and the separate property down payments, if any, are reimbursed to who deposited them first, and then the equity is divided equally.

Dennis P. Mikko · Answer

If you and your spouse cannot agree on a division of the marital home, it could be sold and the proceeds split. The marital home is probably only part of the marital estate so you may want to consider looking at the whole picture and make a settlement that includes everything.

Dean Esposito · Answer

One person will get awarded use and occupancy of it. After you are divorced, you can partition the community property. One party will either buy the other'w equity interest in the home or you will sell it to a third party.

Keven A. McKenna · Answer

Sign a property settlement agreement with your wife otherwise it will be a litigated issue on the division of property in the divorce.

Suzanne H. Lombardi · Answer

In Alaska property distribution can be complicated. The courts presume (start at) the idea that all the property is to be divided 50/50.  That is for the marital portion of the home, meaning the time that you spent in the house when you were married.  The equity in the home, the portion that is paid off during the marriage is usually spent 50/50.  There are many other factors under consideration.  It is best to contact an attorney to help you navigate your way through property distribution and custody if that is at issue.

Frances Headley · Answer

At the beginning house are divided only as to who is going to use and occupy it.  Later, it is determined how it will be divided. Occupancy at the beginning does not determine how the asset is ultimately divided.

Steven Alpers · Answer

It can be divided any way that works. If you can buy out your wife, or she can buy you out that is okay. If not the only other choice is selling.

Leonard Schwartz · Answer

The answer is not as easy as it may seem.  However, either one party buys out the other or the house is sold and both get what they are entitled to.

Glenn Tanner · Answer

It depends on what else there is to divide. You can have the house ordered to be sold.

Gregory Crain · Answer

Sell and divide the proceeds.

Eric Smith · Answer

Neither party is required to leave until a temporary order or final decree orders one or both parties to leave.

Barbara Peyton · Answer

All of your property: real, personal and otherwise house, furniture, cars, retirement benefits, etc. are valued. Then that value is divided in half and who ever has the most value owes the other spouse some money. If there is no money to pay with, the house is usually sold to free up some money and equalize division.

Dennis Leffert · Answer

You should discuss that with your wife, if possible. If you want to keep the home, she may be entitled to ? of the net.  If the home is upside down, you may have to re-finance, putting the home in your name (which means you would have to qualify the loan) and assume the upside down debt.  There are many ways to divide the home, so don?t make a quick decision.  One possibility is to mediate that issue.  Mediation is Fast, Effective and Affordable and if neither of you want the expense of an attorney, mediation may be the way to go to settle this issue.

John Rivers · Answer

The division of the home place is part of the equitable division of the property acquired during the marriage. Equitable division in most cases does not necessarily have to mean a 50/50 split. If the parties do not enter into an agreement, the Court will determine how to divide the equity in the marital residence. The Court will examine all of the circumstances and divide the property.

James Albert Bordonaro · Answer

The house largely depends on if you have children of school age.  All of the parties' assets are added up and divided so that one person might get the house while the other person might get the car and any bank accounts.

Leonard A. Kaanta · Answer

This is part of a divorce settlement, each part is entitled to one half the value of the house.

Robert Merlin · Answer

You can sell it and split the net proceeds or one of you can buy the other's interest in the house. If you have a child who will be spending most of the overnights with you, there is a presumption that the child should continue to live with you in the home.

Loren Zahn · Answer

What the parties decide to do with the property (other than sell) immediately after separating is not determinative as to the final disposition of the property. Therefore, if you cannot immediately take possession of items that you ultimately want (or no agreement can be reached on what each party takes at this time), that is ok as you will have an opportunity to make those decisions later (or the court will make it for you both), so long as there is no written agreement stating that this is the final disposition of the property.

Ronee F Korbin Steiner · Answer

If you want to stay there, you have to determine if there is equity or if you owe, and then divide that up. If you have equity and want to sell, the final decree will award you the proper amount.

Lynda Leblanc · Answer

If you can't agree who should live in the house and pay the bills during the divorce, then you ask for provisional order from the court and the court decides. Who lives in the house during the divorce does not dictate who gets the house. If you both want it, the court will look to who can afford it, if you both want it and can afford it, the court will decide, taking into consideration things like, kids (if any) and other assets and a fair distribution of the estate. Or the court can simply order it sold to avoid the fight.

David Strachman · Answer

Selling the house and dividing the net equity is the easiest way.

John Brennan · Answer

You need an attorney, divorce can have an effect on the rest of your life.

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How do you divide the house when you start divorce proceedings?

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