There is often a great deal of value in a family home — both sentimental and monetary. For many couples, their home is one of their largest investments. As such, what happens to the family home and other property following a Virginia divorce is often a hotly contested issue.
Often, those who are considering whether a divorce is in their best interests will have many concerns about what happens to their family home. In many cases, a person might be concerned if their name is not listed on the deed. However, who is included on a deed is typically immaterial in the case of a marital asset.
The next question many people have deals with how an asset such as a house can be divided. Typically, either one of the parties will retain the house, or it will be sold and the proceeds divided between both parties. If neither is able to afford the house or come to an agreement regarding who will retain possession, it may be necessary for the house to be sold. The same typically applies to other property — such as a vacation home.
There are a variety of different issues that must be addressed when a Virginia couple chooses to divorce. Often, there are aspects that someone who has never gone through the process before may not consider, such as clearly examining whether he or she can afford the upkeep on a family home. Because of this, most people seeking a divorce want an attorney with experience with such cases on their side as they work to divide the assets of their marriage in the search for a happier stage in their lives.