In property division in a divorce, the laws differ from state to state. With California being a community property state, property will be divided in this manner. Assets, property and debts incurred prior to the marriage are commonly classified as separate property, whereas all assets, property and debts incurred during the term of the marriage will be classified as community property. There will be exceptions, of course, such as property acquired as part of an inheritance. Your attorney will be able to advise you on whether or not any exceptions will apply to your unique situation.
One of the questions we are often asked by divorce case clients is "Who gets the house?" In many instances, the two parties are able to come to a mutual agreement as to the terms of the divorce, which will include deciding who gets the house. Factors including which parent will retain physical custody of the children, whether or not the house has some sentimental value to one party or the other, and whether one party is willing to take the house in lieu of other marital assets may all play a role in that decision. In cases where the two parties are unable to come to an agreement and must go to trial for a decision, the judge will hold the final decision as to who gets the house. Again, that decision will be made based on the equitable division of the entirety of the community property, as well as what is in the best interest of both parties and any children from the marriage.
If you are considering filing for divorce, and you have questions as to how your assets will be divided, we recommend you contact our firm and speak with a skilled divorce attorney as soon as possible. We always work closely with our clients, as we want to ensure you understand your rights and are completely aware of the options that could be available to you in the resolution of property division, including the family home. When you contact a Sherman Oaks divorce attorney from our firm you can rest assured we will do everything we can to help you obtain optimum results.