Divorces are never easy. Going through a divorce often creates major financial and emotional issues. One of the things many divorcing Tulsa couples worry about is what will happen to the family home. Unlike the money in a bank account, a home cannot easily be split up. Further, most people develop and attachment to their home over the years. If you are going through an Oklahoma divorce and are worried about your home, an experienced Tulsa divorce attorney can help.
When dividing real estate, and all other property, you first need to determine whether or not it qualifies as a marital asset. In some cases, this question is easy. For example, If you and your spouse shopped for, and purchased, your home together, it will certainly qualify as a marital asset. But some cases are much more difficult. Not all homes are marital assets. If you purchased your home ten years ago, and then subsequently met and married your spouse several years later, your house may qualify as a premarital asset. However, just because a home was purchased before the marriage, does not mean that it is not a marital asset. Homes can actually convert into marital property depending on certain factors. This includes the length of the marriage, the living situation, the nature of the divorce and how the mortgage payments were made. Oklahoma uses an equitable distribution standard for dividing all property in a divorce. Ultimately, an experienced divorce attorney will always need to review your individual circumstances.
The majority of couples will find that there home qualifies as marital property. There are three general paths that can come next:
Going through a divorce can be frustrating, especially when it comes to dealing with your home. At the Hayes Law Firm, we will protect your interests and help you get past any difficult issues. If you have questions about divorce in Tulsa, please contact experienced family law attorney Blake Hayes online, or at (918) 392-4641.