When a couple divorces, what happens to the home they formerly shared?

When a couple divorces, what happens to the home they formerly shared?

When a marriage ends in divorce, the parties involved always get the first and most important voice in determining how the assets of the marriage will be distributed. Regrettably, reaching a consensus might be more difficult in practice than in theory. In the event that the spouses are unable to resolve their differences over the division of the family home, the matter will be brought before the court for resolution. The state of Ohio follows the equitable distribution model, which means that when it comes to the allocation of property, it is done so in a fair manner rather than necessarily in an equal manner.

In most cases, the court will operate under the presumption that both partners have made an equal contribution to the acquisition of any property acquired during the marriage. Even if you owned the home before you were married, there is a chance that it will be considered marital property once you do get married. It is possible that the growth in value over time can be regarded as marital property if your spouse played a role in contributing to that increase. Even if, for instance, you bought a condo before you got married, continued to use it as an investment property after you got married, and it subsequently increased in value, the condo would still be regarded as your separate property even though its value increased, and it would not be subject to division.

In the event that efforts to mediate a dispute outside of court are unsuccessful, you may consult with a divorce attorney in Columbus, Ohio about the various legal options.

The court may also take into consideration other aspects, such as the length of time the couple was married and the question of whether or not the custodial parent should have the right to continue living in the family home if they are responsible for the upbringing of the children. If you have more than one property, such as a vacation house, you are unable to transfer the title to a relative in order to prevent the property from being divided during the divorce process. It is possible that you will lose your separate property as a result of this, or at the very least, your portion of the marital property will be reduced.

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