Who Should Move Out of the Family Residence? - Musselwhite Meinhart Staples & Hafley

When the decision to end a marriage has been made, a number of practical considerations typically follow. When minor children are involved, decisions relating to custody, visitation, and support must be made during the divorce process. The other area where significant decisions must be made is in the division of marital assets and debts. For most couples, the family residence represents the biggest asset and debt of the marriage. Not surprisingly, the question “Who should move out of the family residence?” is often a contentious one in a divorce.

Ideally, the division of marital assets and debts will be worked out by agreement of the parties during the divorce process. If the parties cannot reach an agreement, a judge will ultimately have to divide the assets and debts at trial. Not only does the marital residence likely represent the most valuable marital asset but it may also represent the most emotional asset. The family residence is where the family lived prior to the break-down of the marriage. Some people form an intense attachment to the marital residence while others want nothing to do with it, preferring a “fresh start” elsewhere. Clearly both parties cannot remain in the home, presenting a problem if both parties want to remain in the home. When this is the case, several factors should be considered when making a final decision regarding possession of the marital residence, including, but not limited to, the following:

Custody of minor children – ideally, the party who will have custody of the minor children will remain in the home so as to provide as little disruption to the children’s lives as possible.
Investment in the home by the parties – if one party owned the home prior to the marriage and, therefore, has a significantly greater financial and emotional investment in the home that should be considered.
Ability to pay the mortgage – ideally, the party who remains in the home will be responsible for paying the mortgage payments each month. Therefore, each party’s income should be considered.
Ability to refinance – if the mortgage was obtained jointly, the party staying in the home should be able to refinance in his/her name alone within a reasonable time after the divorce has been finalized.
Division of other marital assets and debts – if the majority of the marital assets are tied up in the family home, a method for compensating the party who leaves the home must be considered. Sometimes, the only way to accomplish a fair division of assets is to sell the marital residence and split the equity.

If you are planning to pursue a Kentucky divorce and possession of the marital residence will be a contested issue you should consult with an experienced Kentucky family law attorney early on in the process to ensure your rights to the home and to all marital assets are protected.

The family law attorneys of Musselwhite Meinhart & Staples, PSC have over 50 years of combined legal experience handling family law cases. This experience has enabled the attorneys to achieve the best possible results for their clients time and time again. Your case is important to you; therefore, it is important to us. We represent clients in Hardin County and surrounding counties from our office in Radcliff and Elizabethtown.

Contact us at (270) 351-6069 or 1-800-754-HELP to schedule a free consultation with one of our attorneys. You may also contact our office through our convenient online contact form. We look forward to meeting with you to discuss your legal options for collecting compensation for your injuries.