Property in Divorce
In the context of divorce, the division of property is often a complex and contentious issue. Generally, courts aim for an equitable distribution of marital assets, which includes any property acquired during the marriage, regardless of whose name is on the title. Factors influencing this division may include the length of the marriage, the financial contributions of each spouse, and the needs of any children involved. It’s important for both parties to fully disclose their assets and liabilities to ensure a fair settlement. In some jurisdictions, prenuptial agreements may also play a significant role in determining how property is divided. Seeking legal help can help navigate these intricacies and protect individual interests during the divorce process.
If I get the children, do I get the house?
Both the children’s needs and the needs of the spouse looking after them have a priority, but the judge takes into account the other spouse’s needs also, although these may be postponed in favour of the spouse with the children.
It is also an important factor as to how much contact each parent has. You may not have residence of the children but you may have more contact than the other spouse. Such considerations are taken into account by the judge.
Joint Tenants vs Tenants in Common
There are two ways to own a property with someone else – as joint tenants and as tenants in common. There are key differences between the two. The right option for you will depend on your personal preferences. More on this topic here.
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