Montgomery County Real Estate and Divorce Lawyer
One of the most complicated parts of divorce is dividing property that has been accumulated during the marriage. Real estate division can be a grueling process, especially for couples who have high net worth. Our legal team at the Law Offices of Sheryl R. Rentz, P.C., has over 20 years of experience in complex divorce. Our lawyers also specialize in high-asset property division, child custody, and prenuptial agreements. We always put the needs of our clients first and handle each case professionally. If you have questions, please call our office at (866) 290-9292 to set up a free consultation.
Who Gets What
A lot of factors go into deciding who gets what. Pennsylvania is an equitable distribution state, which means property will be divided by standards that the court considers "fair" and not evenly. Be sure to educate yourself, so you will be prepared to fight for what’s more important to you. Common factors that a judge will consider before dividing property are:
- Duration of the marriage
- Age and physical/mental health of each spouse
- Economic circumstances of each spouse
- Sources of income/potential earnings of each spouse
- Earning power of each spouse
- Contributions from one spouse to the other (example: if wife paid for husband’s education or training)
- Benefits and insurance policies of each spouse
- Value of assets and other marital property
- Contributions of one spouse as a homemaker, if applicable
- Standard of living established during the marriage
- Tax consequences for distribution of assets
- Child custody
Dividing the Family Home
The family home is usually the most fought-over possession in a divorce. If there are children involved, the judge will usually award the family home to whichever parent is awarded primary custody. The Pennsylvania family courts do not want children to be uprooted from their normal routine if it can be avoided.
If there are no children and the home was purchased during the marriage, the courts will use equitable distribution to either award it to one spouse or have it sold and divide the proceeds.
If the home was purchased prior to marriage, the purchaser will probably be awarded the home and the other spouse would have to vacate. However, neither spouse has the right to kick the other out of the home until it is decided by the court. If you have been wrongfully evicted from your home, you can take legal action.
Dividing Real Estate
Other real estate holdings, such as vacation homes, timeshares, and rental property, would be divided based on equitable distribution. It is helpful for you to let your attorney know which properties you are more adamant about keeping. Your lawyer will do her best to prove that you are more deserving of those properties. If there is a property that neither of you particularly want (for example, a timeshare), the judge may order the property sold and the proceeds divided, or given to one spouse in exchange for the other person keeping another piece of property like a vacation home. There are many outcomes, and knowing your options and being prepared is the best way to go.
When planning a divorce, you need a lawyer with experience. At the Law Offices of Sheryl R. Rentz, P.C., our Montgomery County family law attorneys specialize in complex, high-asset property division, child custody, and contentious divorce. If you need assistance dividing your property, give our office a call at (866) 290-9292 for a free consultation.