Finding Solutions For Real Estate Division Issues
The most valuable asset that many couples own is their home. When they go through a divorce, dividing the family home and other real estate assets can be contentious and complex.
At Kroener Hale Law Firm, we help people throughout southeast Ohio resolve disputes when dividing real estate during divorce proceedings. No matter how complicated someone’s real estate holdings, we are able to find solutions that protect their interests.
Is The House Marital Property?
Many people correctly assume that a house a couple purchased together after their marriage is marital property. In Ohio, both spouses receive an equitable distribution of marital assets.
However, there are circumstances that may cause a portion of a home’s value to be marital property, even if one spouse owned the property prior to marriage. These situations include:
- Adding a spouse’s name to the deed: If the non-owning spouse’s name is added to the deed, the house is marital property. This is true regardless of when one spouse purchased the house.
- A spouse contributed financially: If the non-owner spouse contributed financially to the house, a percentage of the home’s value will be marital property. Financial contributions commonly include helping to pay for the mortgage or any renovations that increased the house’s value.
- Using marital funds: A home may also be martial property if any money that is marital property is used to pay mortgage payments or for upgrades to the house.
Our lawyers thoughtfully analyzing what percentage of a home’s value may be marital property. We work with real estate professionals to calculate the fair value of a piece of real estate to help our clients reach a fair divorce agreement.
We Resolve Complex Real Estate Division Matters
For real estate owners who are going through a divorce, it is critical to speak with a skilled attorney who can help guide you through process and protect your wishes. Schedule an appointment with our Milford office by calling 513-716-5940 or completing the contact form on our website.