Dividing the home in a divorce
When a couple seeks a divorce there are usually two items that are the most concerning for people. The first is if children are involved in the relationship. Typically parents are concerned with parental right issues regarding where the children will primarily live and how visitation will be established. The second-largest concern is in regard to the division of marital assets, primarily the marital home. Many people find themselves asking, “do I have to sell my house if I am getting divorced?” This is not a one answer fits all type of question. It is always best to consult with a family law attorney if you are considering or need to respond to divorce. With that being said let’s take a look at how Utah typically handles marital assets so you can understand what to expect in your case.
How Utah handles marital property
It is important to understand that states have legislation that dictates how marital assets are divided after a marriage has ended. These procedures are determined by a number of factors including but not limited to how long the marriage took place, if those assets were obtained after the marriage, and if there are any valid prenuptial agreements in place. There are states that are known as “community property states” and states that are known as “equitable distribution states.” A community property state operates under the notion that all marital assets should be distributed or split in an even 50-50 manner. In this case, it is likely to be deemed that each spouse has an equal entitlement to the home. Utah is an equitable distribution state where assets are supposed to be distributed in a fair manner, but not necessarily equally. Factors that are considered include each spouse’s financial circumstances, contributions to the marital home, the spouse’s age, mental and physical health and if there was any marital misconduct.
There are other factors that can be taken into consideration.
If there is one thing you can take away from this article, let it be the notion that each marriage and divorce is unique. To get the best understanding of what is likely to happen is going to come from speaking with a divorce attorney in your area. They will be able to breakdown your situation and explain the main items that can affect your case. For example, the parent with custody of minor children will probably get to stay in the marital home. If you live in Utah we invite you to contact the legal professional at Burton Family Attorneys to speak with a professional today.
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