“If the Deed is in My Name, I Will Be Awarded the Home in Divorce, Right?”

Many people assume that, if the deed to a home is in their sole name, they will receive the home in the event of divorce.  This is not safe to assume.  

The name on the deed will not determine who is awarded the home in the event of divorce.  If the home (or other property) was acquired during the marriage or with marital funds, it is likely the home will be considered a "marital asset" and both parties will be entitled to an equitable share of its value.  Similarly, the fact that the mortgage may be in only one spouse’s name does not mean the mortgage will not be considered a joint marital debt. If marital income or marital resources were used to purchase the asset, the name on the deed or title may not have much bearing on whether the asset can be divided in a divorce.

If the home or property was purchased before the marriage, some or all of its value may be considered “separate property.”  Deciding whether an asset is “marital property” or “separate property” is a legal area where simple rules do not apply – and a case-by-case review of the key facts and dates is required.

The facts relating to each asset in a divorce can make a vast difference in the division of that particular asset.  If you have questions relating to real property in divorce, we welcome the opportunity to discuss the facts of your particular situation.