How is Property Divided in a Divorce?

For most couples, their home is the most valuable asset In a divorce. The trial court has the power to adjust the ownership of marital residence, whether it was purchased jointly by the parties or owned individually but determined by the court to be marital property, which is generally the case.

The methods to adjust the ownership interests include, among other things, ordering a sale of the residence and dividing the proceeds as determined fair by the court, granting a life estate in the residence to one spouse until the occurrence of specified events, or, ordering an outright award of the residence to one of the spouses. The court may also allow one party to refinance the mortgage and to buy out the interest of the other party in exchange for a quitclaim deed. If a refinance is not involved, it’s important to keep in mind that the party receiving the home receives it subject to any valid liens, mortgages, or other encumbrances.

At New Beginnings Family Law, we understand how stressful and devastating a divorce and child custody issues can be for a family. Our team is committed to providing a caring and comfortable environment where you can feel safe to talk about your case and your goals for the future. You can trust our Huntsville family law attorneys to:

  • Objectively review your case from every angle to develop a smart strategy for moving forward
  • Push toward a satisfactory resolution before your case goes to court
  • Provide strong and relentless courtroom advocacy if your case must go to trial
  • Always put the needs of your children first
  • Make ourselves available anytime you need to talk
  • Truly sympathize with your situation, because many of us have been there ourselves

With more than a decade of experience successfully handling all types of family law cases, our team is prepared to guide you through this difficult time and help get you to the place you want to be.

Contact us at https://newbeginningsfamilylaw.com/ or call (256) 518-9529.