One of the primary legal functions of a divorce is to divide property and assets between the two spouses. Here are some basic guidelines to help you understand the process.
1. Different states handle this process differently
The first thing to know about property division is that there are two different ways that states handle this process. In community property states, property and assets are considered co-owned between spouses if acquired during the marriage, or separate property if acquired outside the marriage. Community property is usually divided evenly and separate property remains with the original or specific owner. Other states follow a process of equitable distribution. In this case, the court divides assets fairly, but not necessarily equally.
2. Who gets the house?
In a case where spouses have separated and one has remained in the house with children, that spouse will often keep the house as an result of the court trying to provide stability for the children. If no children are involved, or if neither spouse is living in the house, the court will decide who keeps the house, or whether it should be sold.
3. You can negotiate outside of court
If both parties are willing to negotiate, their attorneys can handle the distribution outside of court. This is often not possible because of the tension between the two parties.
Dividing property during a divorce can be complicated and even painful. Not only do different states have distinct ways of doing it, but many assets, such as a home, have emotional value that transcends monetary considerations. If you want to know more about a property division lawyer in San Diego, visit this website.