The family home in many Massachusetts divorce cases is the most valuable marital asset, which will be subject to division.
Apart from the financial aspects of the marital home, there are often emotional aspects attached to the family residence, particularly where children are involved in a divorce. In this backdrop, it can be a complex question to determine who gets to keep the marital home, especially if both parties are interested in retaining it.
To address this sensitive issue during a divorce proceeding, it is best to have legal representation from experienced divorce lawyer Jay Davis, who will make sure that your rights to the marital property are fully protected. Call Davis Law Group at 617-221-3548 to schedule a free consultation.
Working Out an Amicable Solution with the Ex-Spouse
In a number of Massachusetts divorce cases, both parties may be able to agree how to divide the marital home. Nothing could be better than this because it will give you much more control over the decision, and avoid the emotional stress that you may go through if the court makes a decision about your home.
However, since your home is probably the most valuable asset of all your marital property, you need the guidance of a knowledgeable divorce attorney such as Jay Davis to ensure that you are not at a disadvantage in this division.
When One Party in a Divorce is Awarded the House
If the decision about dividing the marital home is left to the judge, they will consider various factors. The law in Massachusetts has clearly set forth a list of factors that might be considered in such a division. These include:
- How long the marriage lasted
- What was the conduct of spouses during marriage
- Health condition and age of both parties
- Income and occupation of the parties
- Each party’s ability to earn
- Current and future needs of the children
- What contribution each party made towards the acquisition of the house and its maintenance as well as contributions to the house as a homemaker
House Appraisal to Determine its Fair Value
When one of the parties in a divorce retains the family home, the other party must be fairly compensated. To protect your financial interests, it is important to determine the fair current market value of your home. You will most likely require a professional appraiser’s services who can determine a valuation, provide the facts and figures in writing, and testify at the divorce trial.
To understand this process correctly, you should talk to the skilled and experienced divorce attorney Jay Davis in Massachusetts. Jay has been helping people achieve their goals in a divorce-related property division in the best manner as possible. Call our office at 617-221-3548 to schedule a free consultation today.
Child Custody can Influence Who Keeps the Family Home
Child custody determination in a contested divorce in Massachusetts can have an impact on the court’s decision about who receives the marital home.
For instance, if one party wants to continue living in the family home for a certain time period after the divorce – without having to buy out the interest of the other party – the judge might consider the children’s best interests while deciding on this request of one parent.
In general, the parent who has the primary physical custody of children could sometimes be better placed to use the marital home after divorce compared to the non-custodial parent. The judge may look at an arrangement that promotes the children’s safety and stability in the best possible manner, considering the trauma they have gone through following their parents’ divorce.
Consider Your Income and Cash Flows to Maintain the Marital Home
Although Massachusetts courts have held in some cases that one party’s use of the family home after a divorce could be seen as a component of child support, more commonly the party using the marital home is expected to be responsible for bearing all the costs related to the house.
Instead of making an emotional decision about retaining your family home at all costs, you need to carefully consider your changed financial circumstances following a divorce.
Do you really need to retain the home, and would you have the necessary cash flows to make the mortgage payments, maintenance costs, and property taxes associated with the house in the long run? These are vital issues to consider when you are discussing your property division strategy with your attorney.
Contact the Davis Law Group Today for Legal Advice
Divorce proceedings can be stressful and challenging, particularly when the divorce involves substantial marital assets, including the family home that must be divided between the two parties. Having the legal expertise of Jay Davis on your side could be your best bet in your divorce and all types of family law matters in Massachusetts.
Jay and his legal team are committed to helping you resolve your case to your best satisfaction. Call us at 617-221-3548 to schedule a no-obligations consultation with Davis Law Group today.