One of the key aspects of divorce that often needs resolution is the division of property, particularly the family home.
In California, several factors come into play when determining who gets the house.
1. Length of the marriage
The duration of the marriage is a significant factor in property division. Longer marriages tend to result in a more equal distribution of assets. The idea is to ensure both parties can maintain a reasonably similar standard of living post-divorce.
2. Contribution to property acquisition
The court considers the contributions each spouse made to the acquisition of property during the marriage. This includes financial contributions but also non-financial ones, such as homemaking and child-rearing. The goal is to recognize the efforts of both partners in building a life together.
3. Economic circumstances
The financial circumstances of each spouse play a role in the property division process. The court takes into account the earning capacity, income and financial needs of each party. This ensures that the division is fair and considers the ability of each spouse to support themselves after the divorce.
4. Custody of children
If there are children involved, their custody can influence who gets the house. The primary custodial parent, the one with whom the children will primarily reside, may have a stronger claim to the family home. This is often to provide stability for the children in familiar surroundings.
5. Debts and liabilities
The court also considers the debts and liabilities incurred during the marriage. The division of property takes into account not just assets but also obligations. Ensuring a fair distribution of both assets and liabilities is a key aspect of the property division process.
In 2021, 689,308 divorces occurred in the U.S. Understanding the division of assets may help lead to a more amicable final resolution.