Family Law Blog

Who Gets the House? Property Division in California Divorces

Friday, March 11, 2016

California is a community property state, meaning that all property and debts acquired during the marriage must be divided equally among the spouses. However, property division is not always as easy as splitting assets 50/50. A common concern of divorcing couples is the disposition of the family home. After all, the home is often one of the couple's most valuable assets.

There are many arrangements for disposing of the home depending on the family's circumstances. One of the easiest is simply selling the home and splitting the proceeds equally.

However, sale of the home may not be possible due to a slow real estate market or negative equity in the home. Additionally, the issue can be complicated due to the emotional significance of the family home. One spouse may not wish to sell the home and all of the memories it represents. Other spouses may wish to avoid further emotional distress to children by allowing them to remain in the home.

When one spouse is adamant about keeping the home for sentimental reasons and can afford to maintain the home with no financial assistance from the other spouse, one alternative is to allow that spouse to buy out the other's interest in the property. Where both spouses are concerned about the impact of the home's sale on their children, both may agree to maintain joint ownership and to allow the custodial parent exclusive use of it. In slow real estate markets, the couple may agree to maintain the home as a joint investment in hopes that the home's value may increase over time.

However, these arrangements require a level of cooperation between the divorcing spouses that is not always possible.Contact us today if you are divorcing and are concerned about the ultimate disposition of your home and other assets. Whether you need an attorney who can craft a workable compromise with your ex or need one who can litigate your position aggressively in court, we can help.