What Happens When There is a Dispute over the Marital Home?
When a married couple decides to divorce, if things are ugly between them the division of assets can become contentious. Often, when a couple of average means must divide their assets, the marital home is the most significant asset either party owns. Figuring out how this asset will be divided when each party disputes the other’s interest in the home is always complicated.
If the couple were somehow able to come to an agreement about how the marital assets should be divided, their attorneys could draft a settlement which would then be submitted to the court for approval. In other cases, when the parties dispute how the property should be divided, who should get the house, and how much each party’s share is worth, the court may require that the couple go into mediation to resolve their differences.
In divorce, only marital property is divided. Tennessee is an equitable distribution state, where the court will classify which assets are marital property and which assets are separate property. Often, the way the court classifies an asset might not be the way in which the person who is holding the title to it might classify it. Property that is acquired by the couple during the marriage is generally considered to be marital property. If one party owns the house prior to the marriage, but after the wedding the other spouse moves in and it becomes the marital home, the other party will then share an interest in the home. Dividing the home when the couple divorces becomes complicated.
Can separate property become marital property?
Let’s us the above example of one party owning a home prior to the marriage. Once the other spouse moves in and starts contributing to the maintenance and upkeep of the house, the asset has become comingled with marital property, and can be divided along with the other marital assets. Even if the family home remains in only one of the spouse’s names, if the family lives in the home during the marriage, it is subject to equitable distribution along with the rest of the marital assets.
Any discussion about how the marital home will be valued and distributed between the parties gets complicated and is decided on a case by case basis. It illustrates how vital it is to have the services of an experienced Knoxville divorce attorney who knows the law and knows how to protect your interests in a divorce.
At the Law Offices of LaFevor & Slaughter, our clients benefit from our knowledge and experience when it comes to dividing assets in divorce. You may give us a call at 865-637-6258 or you can complete our contact form to schedule a consultation with a competent Knoxville divorce lawyer today.
As the Managing Attorney with LaFevor & Slaughter, Jason R. Hines handles new client consultations, strategic planning and implementation and represents clients in all the Firm’s practice areas.
As an attorney practicing law in Tennessee since 2009, Jason has represented clients from all walks of life in a wide range of cases in the State and Federal Courts of Tennessee. His practice areas include divorce, family law and immigration.