There are a lot of questions during a divorce, and your home can be at the center of many of them. If you're going through a divorce in Fredericksburg, VA, Strentz Greene & Coleman, PLC is here to help.
There are a lot of questions during a divorce, and your home can be at the center of many of them. If you're going through a divorce in Fredericksburg, VA, Strentz Greene & Coleman, PLC is here to help. We want to tell you the basics of property distribution during a divorce and show you how an experienced divorce lawyer can advocate for your interests.
Several factors come into play when it comes to dividing property during a divorce. In Virginia, divorcing couples have the option to decide how their property will be divided either through mutual agreement or by court order. Here's what you need to know:
The first step in addressing what happens to your house during a divorce is determining ownership. Whether the house is considered marital property or separate property can significantly impact the outcome of its division. Working with a Fredericksburg divorce attorney can help you understand the legal implications of each type of property.
Virginia follows the principle of equitable distribution when dividing property in a divorce. This means that assets, including your house, will be divided fairly but not necessarily equally. Factors such as these will often be considered:
Each Spouse's Contributions: Virginia courts consider the contributions of each spouse to the acquisition, preservation, or appreciation of marital property. This can also include non-monetary contributions like childcare or other support offered.
Financial Circumstances: This includes factors such as each spouse's income, earning capacity, assets, debts, and financial needs both during and after the divorce. The court aims to achieve a division of property that is fair and equitable given the financial situation of each spouse.
Duration of the Marriage: Generally, longer marriages may result in a more equal distribution of marital property, while shorter marriages may involve a different allocation of assets. However, the duration of the marriage is just one of several factors considered, and other circumstances may also influence the division of property.
When it comes to the house, divorcing couples typically have several options for property division. These may include selling the house and splitting the proceeds, one spouse buying out the other's share, or reaching a mutual agreement on how to handle the property post-divorce. Consulting with a Fredericksburg divorce attorney can help you explore the best option for your unique situation.
Our highly experienced attorneys provide authoritative, trustworthy legal representation to families and individuals across Virginia.
Our team of Fredericksburg divorce lawyers at Strentz Greene & Coleman, PLC is here to guide you through the process. With our experience in Virginia divorce law and a focus on personalized client care, we can help you achieve a fair resolution regarding your house and other assets.
You don't have to go through this alone. If you're facing a divorce in Fredericksburg, VA, reach out to Strentz Greene & Coleman, PLC. Having the right legal guidance can make a significant difference in how your property, including your house, is divided. Contact us today to get started.
