Divorcing couples always have the first say in how they want the marital property to be divided. Unfortunately, working out an agreement is sometimes easier said than done. If the spouses cannot come to an agreement on how the family home is to be divided, the decision will be left to the court. Ohio is an equitable distribution state, which means that property is divided equitably, but not necessarily evenly.
The court generally assumes that spouses offered equal contribution to all marital property. Even if you bought the home prior to your marriage, it may still be considered marital property. If your spouse contributed to its increase in value over time, that increase may be considered marital property. If, for example, you had a condo prior to the marriage and kept it as an investment property, which later appreciated in value, it would still be considered separate property and not subject to division.
The court may also consider other factors, such as the duration of the marriage and whether or not you should have the right to live in the family home if you have custody of the children. If you have more than one property, such as a vacation home, you cannot transfer the title to a relative to avoid having it divided during the divorce. This may cost you your separate property, or a reduction in your share of marital property.
The Columbus divorce lawyers at Grossman Law Offices understand that divorce is an emotional time for those involved and it is never an easy decision. We will do everything we can to help you remain calm and informed throughout the entire process. With over 40 years of experience to our name, our firm is known for delivering exceptional representation.
Call us today at (614) 344-4311 to consult with a skilled member of our legal team today.