When couples get divorced, one of the most contentious issues is often who gets to keep their home. This can be a difficult and emotional topic for all parties involved, especially when it comes to property ownership in real estate.
According to a recent article on Realty Times, the rules surrounding who gets the house in divorce proceedings involving property ownership in real estate vary by state, but here are some general guidelines:
Who gets what when it comes to real estate assets?
- Couples can split their marital assets, including the house, equally or they can agree on a specific division.
- If one partner owns more than half of the property, they may be required to contribute additional funds to maintain the home and pay off any outstanding mortgage.
- In some cases, a court may order one partner to sell their share of the house or other real estate assets to satisfy the other partner's debts or obligations.