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How is Property Divided in a Divorce in Alabama

How is Property Divided in a Divorce in Alabama

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 , its important to keep in mind that the he party receiving the home receives it subject to any valid liens, mortgages, or other encumbrances.

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