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October 31, 2016 By Carrie S. Schultz, Esq.

Bergen County Divorce Attorney Explains What Happens to the Marital Home


As an experienced Bergen County Divorce Attorney, most of my clients are anxious about what happens to the marital residence in a divorce proceeding. There are a couple of things that we can do with the house. One spouse can stay in the house and purchase the other spouse’s interest in the house, or we can sell the house and equitably divide the proceeds.

What Assets will be Exempt from Marital Property?

  • No asset is technically out of the question when it comes to marital property
  • The longer you possessed an asset prior to the marriage, the more likely it is that the item can be exempt
  • If you shared the asset with your spouse regularly throughout the marriage, the more likely it is that the asset will be equitably distributed

Sharing the Marital Home

  • Sharing the marital home eliminates the expense of paying for another house or apartment for a spouse that decides to live away from the marital home
  • Keep the children in mind, and make your decision based on what is best for them

 

Are you worried that you are going to lose your home as a result of your divorce?  If so, contact the experienced Bergen County Divorce Attorney Carrie Schultz.

This educational blog was brought to you by Carrie Schultz, an experienced Bergen County Divorce Attorney.

Attorney Carrie S. Schultz

Carrie S. Schultz, Esq. – author

Thank you for visiting our site. We realize that if you are reading this, you or someone you know is having marital or family difficulties. We truly understand how unsettling that can be for all involved. I personally want to invite you to explore the website which contains a lot of informational and educational items which I hope is of benefit to you. I also welcome you to contact us to schedule a consultation to discuss your matter in greater detail. Our firm philosophy is to always remain committed to providing our clients with the best service, care, guidance, communication, and legal advice possible for your particular situation. We take seriously you entrusting us with your legal matter. Happy researching! Attorney Bio

CLICK HERE TO SEE THE FREE VIDEO “THE TOP 3 THINGS TO CONSIDER BEFORE A DIVORCE”

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