Divorce is hard on the heart and involves legal decisions. When you and your spouse get divorced in the state of Utah, you do not have to divide your marital assets down the middle. Rather, the court will try to split such assets fairly and equitably according to what is best for every party.
A lot of Utah divorces result in one party keeping the primary residence. Often, this is because the spouse needs the home more than the other or they may be able to afford the mortgage. When it comes to this matter, emotions can run high. The two spouses might be emotionally attached to the property. A divorce attorney from Coil Law, LLC can help fight for your rights and protect your interests. They can help you while you navigate such decisions.
What is Equitable Distribution Law?
As an equitable distribution state, any Utah property is split fairly; however, this may not mean equally. In a divorce, it is important to tackle marital property and separate property. Marital property includes property earned or acquired by a couple during their marriage. It includes salaries and items purchased using such earnings. Also, marital property can include property owned by a spouse before marriage. This can happen if this property was utilized for both spouses’ benefit during their marriage.
Meanwhile, separate property includes assets that a spouse owned before marriage and kept away from it. Also, this includes inheritances or gifts provided to one spouse during the marriage. A house purchased during the marriage is considered marital property.
Factors that Impact Property Division
A lot of factors play an important role in determining the spouse who can get the marital house when a couple gets a divorce. These include the following:
- The party that wants to get the house. Do you or your spouse want to keep the family home? You may both want the property or one spouse may want to move out. If you have children, keeping the house may be essential to maintain the stability of things. But you can afford to maintain and pay for the mortgage payments alone? Take these expenses into account to ensure you make the right decision.
- Who gets child custody? Usually, the custodial parent keeps the family home. With this arrangement, your child can continue to go to the same school and maintain their social circle. Otherwise, they will need to adjust to a new home and neighborhood. Family courts usually consider the child’s best interest when deciding which party should keep the home.
- The spouse with more earnings and contributions. The more you contributed to buying and maintaining the house, the stronger your case may be to keep it. Usually, courts consider such contributions to determine how to fairly divide marital assets. They will consider the spouse who paid for the family home and who maintained it.
- The party who can make more money. if a spouse has the potential to earn more income in the future, they may be able to manage the costs that come with keeping the family home like mortgages, utilities, taxes, and repairs.
The Role of a Divorce Attorney
Figuring out who keeps the family home can be hard. This is the reason you must hire a skilled divorce attorney to defend you. This lawyer can guide you through the challenging parts of the divorce process and ensure your rights are protected. They can negotiate for you and strive to reach a reasonable settlement that can help with your personal and financial circumstances. Also, they can facilitate talks between you and your soon-to-be ex to minimize conflict and foster an amicable resolution.