In the complex terrain of high-asset divorces, determining who gets the marital home can be a pivotal decision. Courts typically aim for an equitable distribution of assets, but this does not always mean a 50-50 split.
Before deciding who will maintain ownership of the home, there are various factors for the court to consider.
Acquisition contribution
One primary consideration is each spouse’s contribution to acquiring the property. If one spouse purchased the home prior to the marriage, the court may deem it separate property and award ownership to that spouse. However, if the property’s purchase or mortgage payments occurred during the marriage, it is often regarded as marital property subject to division.
Primary custody
In cases involving children, courts may prioritize the parent who will have primary custody. They often lean towards awarding the marital home to the custodial parent to provide stability and continuity for the children. This decision aims to minimize disruption to the children’s lives during a tumultuous time.
Financial capability
Financial circumstances play an important role. If one spouse has greater financial means or resources to maintain the home, they might receive possession, particularly if they can buy out the other spouse’s share or afford mortgage payments and upkeep.
Fairness and compromise
Ultimately, courts seek a fair resolution that considers each spouse’s needs and contributions to the marriage. Negotiation and compromise outside of court can offer more flexibility in determining who retains the home, allowing both parties to have a say in the outcome.
Knowing what courts consider when deciding who gets the home can help couples going through a divorce understand the process better and make it fairer for everyone involved.
