It might be safe to say that most Utah couples may already know that getting a divorce can be a challenging experience. Many issues need to be addressed at the beginning of the divorce process, and one of the most painful can be property division. Important in its own right, it is also a telling sign that the end of married life is near.
Many people may think that dealing with issues over money or the children feel like the end of the marriage. That may be true from an emotional perspective at that moment, but those emotions will heal in time. It is during the separation of property when some tend to feel the most vulnerable.
Dealing with assets, like the house, is important to both parties. What is considered a fair and equitable distribution for both parties is paramount to the court. However, the choices are limited as to how to divide a house.
One option is to sell the family dwelling and split the proceeds. If one party wishes to keep the house, he or she may have to obtain an appraisal to assess a fair market value. Whoever is awarded the house in the divorce settlement will typically need to compensate the other party for their portion of the home.
Divorce might not always be an easy undertaking. Knowing Utah’s property division laws can make the difference between ending the marriage amicably or enduring a long and drawn out ordeal. Once a mutually agreed upon settlement is drafted and executed, it may be presented to a judge in order to finalize the divorce.
Source: Huffington Post, What to Do With Your House in a Divorce Case, Christian Denmon, Denmon & Denmon Trial Attorneys, Dec. 9, 2013