Thursday, August 3, 2017

What is a Divorce.

  • The legal dissolution of a marriage by a court or other competent body.
  • A divorce happens after a husband and wife decide not to live together anymore and that they no longer want to be married to each other. They agree to sign legal papers that make them each single again and allow them if they want to marry other people.
  • A divorced person is called divorcee.
  • There are two basic approaches to divorce: fault based and no-fault based.However, even in some jurisdictions that do not require a party to claim fault of their partner, a court may still take into account the behavior of the parties when dividing property, debts, evaluate custody, shared care arrangements and support. In some jurisdictions, one spouse may be forced to pay the attorney’s fees of another spouse.
  • In a fault divorce, one spouse may argue that the other spouse did something which caused the marriage to fail.
    Each state has a different set of fault grounds, but some of the most common grounds are:    
    1. Adultery
    2. Abandonment
    3. Substance abuse, and
    4. A felony conviction.
  • A “no-fault” divorce refers to a divorce based on “irreconcilable differences” or an “irretrievable breakdown of the marriage.” These are just fancy ways of saying a couple can’t get along and there’s no hope for reconciliation.
  • It’s estimated that 40 to 50 percent of all first marriages, and 60 percent of second marriages in the United States, end in divorce.
Reasons for divorce
  • Infidelity
  • unresponsive to needs
  • incompatibility
  • immaturity
  • emotional abuse
  • financial problems
Property sharing in Divorce:

Divorces are rarely easy, and very few end with zero disputes over major assets. For most relationships, the biggest shared assets are related to real estate. Whether the marital home or investment property, those going through a divorce often want to know, “what happens to real estate in a divorce?”.
Property Date Purchased and Use During Marriage

The biggest part of the analysis for what happens to real estate after a divorce is when the property was purchased. If one of the parties purchased the property before the marriage, it might be considered a pre-marital asset that belongs exclusively to that spouse. However, if the property served as the home in which the couple lived while married, or as a source of marital income, the property may have converted to a marital asset subject to equitable distribution between both spouses.

If the two parties to a divorce are still civil and want a clean, quick, and simple break, selling a property is a great idea. The only issue will be how the proceeds are divided between the spouses and, unfortunately, this issue alone can become quite contentious. If the parties can agree beforehand, they may avoid considerable headaches when the property sells. Alternatively, having the attorneys negotiate or hiring a mediator may be other ways to determine an appropriate distribution of the cash from the sale.

A common philosophy in determining who should get how much out of a home or other property sale is to look at how much each spouse contributed to the property.

If the other party is willing to walk away from ownership, the one who stays can simply “buy out” the other’s interest in the property. This also requires the departing spouse to be removed from any deeds, mortgages, or other rights or obligations on the property.

If both parties want to retain possession of the property, the matter must be decided by a judge. Often, the ownership will be granted to one party at the cost of certain other assets that party may have wished to retain. That way, neither party gets more out of the divorce than the other.Thus, it is usually best, even under contentious circumstances, to attempt to resolve disputes over property ownership amicably rather than by going through court.

One thing should be clear: the process of distributing real property between former spouses can be complicated and fraught with peril. For that reason, it would be wise to hire a competent, experienced attorney to help with negotiating an appropriate resolution or taking the case to court.

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