The question of high-value assets can turn divorce negotiations, an already emotionally charged process, into an even more volatile situation. The family home, for example, carries important memories and significant financial value, so you may want to keep it as you progress through divorce settlement negotiations.
If this describes your current situation, a Pennsylvania divorce attorney can review your legal rights and options with you.
How Does Pennsylvania Law Handle Property Division?
Pennsylvania courts abide by the principle of equitable distribution. According to this principle, the court can distribute marital property in a manner that it deems fair, even if the exact split is not 50/50. In other words, the division of marital property can be fair without necessarily being precisely equal.
For instance, the court may consider the length of the marriage, each spouse’s income and earning potential, each party’s financial and non-financial contributions to the marriage, and each partner’s needs when determining equitable distribution.
If the court views the house as marital property and therefore subject to equitable distribution, it will use these and other factors to award a party the house.
Can You Keep the House If It’s Not in Your Name?
You may still have a claim to the house, even without your name on the deed. The principle of equitable distribution recognizes that spouses contribute to marriages in different ways, including non-financial contributions like homemaking or child-rearing. The court will evaluate each partner’s contributions during the marriage and may award rights over the property one way or another accordingly, regardless of who bought the house.
Should You Try to Negotiate the House in a Settlement?
Settlements can give you more control over the outcome of house disputes and alleviate the uncertainty of a court decision. If you can reach an agreement with your spouse through third-party mediation, you could stand a greater chance of keeping the house or arranging a buyout that works for both parties.
Protecting Your Property Interests with BKW Family Law
If you need a strong advocate to help you negotiate a settlement to maintain your family home during a divorce, call BKW Family Law or fill out our confidential contact form. Our dedicated and experienced divorce attorneys will build the strongest possible case to claim what’s yours in your settlement negotiations.