WHO IS RESPONSIBLE FOR PAYING FOR THE FAMILY

HOME AFTER I MOVE OUTA Guide to Property Rights in Divorce

WHEN YOU MOVE OUT OF YOUR FAMILY HOME

When you move out of your family home during the process of divorce, the spouse who remains in the home will usually become responsible for paying for the costs of the home

There may be some exceptions if the spouse stays in the home

with the children based on a decision made by both parties

DURING THE DIVORCE

If the spouse who remains in the home pays for the expenses and the other spouse has to pay rent during

the period of divorce, this needs to be taken into account when dividing

marital assets in a divorce

To determine how remaining in the home affects the division of marital assets, it

becomes important to determine the fair market value of renting the home

The expenses of the home also must be calculated to

determine the extent of the financial benefit from staying in the home during the divorce

THE FAMILY HOME AFTER DIVORCE

As part of the divorce, it will become necessary to

determine what should happen to the family home after the

marriage has been dissolved

The home could be sold and the proceeds split between the spouses with each having a right to

50 percent of the shared marital home under California’s community property rules

One spouse could keep the home after divorce, buying the other

spouse out and becoming solely responsible for costs and expenses

IF YOU KEEP THE HOME

If one spouse intends to keep the home and continue to live there after the divorce is

finalized, it is advisable for the mortgage to be put in that spouse’s name only

If your name remains on the mortgage and the spouse living in the home

stops paying, the bank could seek to recover the money from you and your

credit could be damaged

An experienced divorce attorney can advise you on how best to deal with your family home

during divorce

We invite you to contact us at (925) 314-2320 to

schedule a consultation

Click to visit: www.FamilyLawGroup.comContent provided by: Best Legal Practices