No matter if a family lives in a modest or expensive home, one of the most common questions asked after a divorce is what will happen to that home. While not always true, the sale of a house in Georgia follows a predictable path. Judges in Georgia divide property equitably, which means fairly, but not necessarily equally. As a result, this article will answer some of the most common questions about what happens to the family home after the dissolution of a marriage.
Will a Parent be Required to Move Out?
A spouse will not be required to move out of the house until ordered to do so by a court of law. This order might include a Temporary Protective Order or can include any other type of temporary order issued from a court for exclusive possession of the house. If the household has become hostile, a temporary protective order can be filed.
What Will Happen to the Family Home?
If the parties are capable of reaching an agreement, this will determine what happens to the house. If there is a trial, a court could order the marital residence sold, award the residence to one spouse, or jointly award ownership of the house to both parties. The exact solution that a court decides on depends on a number of factors:
- Buy-Outs: Sometimes, one spouse will be awarded ownership of the house so that it can be used to raise the children. After all the children turn 18, a court might order the parent to sell the house and divide the profits with the former partner. Deciding which spouse should be awarded ownership of the house depends on several factors including each spouse’s income and the property’s value.
- Joint ownership: Rarely does a divorcing couple wants to share the same residence after a divorce. Sometimes, however, one spouse stays at the residence while looking for another place to live.
- Sale: Most divorcing couples decide to sell their house. Some of the considerations involved with the sale of a house include both partners should be able to purchase or rent another place to live. One of the largest advantages of this option is that couples are able to disentangle from the other’s finances.
The Challenge at Property Valuation
If a court decides to sell a house and divide its property among former spouses, the court will likely analyze either the possible investment of separate property in the marital residence and how the title for the property is structured. Possible investment in the marital home can include mortgage payments, renovations, and upgrades.
Speak with an Experienced Divorce Lawyer Today
Deciding what to do with a former couple’s house is one of the most challenging questions that arises during a divorce. If you need the assistance of an experienced family law attorney to help decide what to do with your house or one of many other issues, do not hesitate to contact Vayman & Teitelbaum P.C. today to schedule an initial free consultation.