- 1 What are the rights of possession of a house during a divorce in GA?
- 2 How are assets split in a divorce in Georgia?
- 3 Who gets the house in a divorce in Georgia?
- 4 Can I be forced to sell my house in a divorce?
What are the rights of possession of a house during a divorce in GA?
Under Georgia law, both spouses have equal right to access the marital home until a judge has entered an order for exclusive possession. If the parties can reach an agreement (for example a partial settlement concerning just the marital residence), this is usually best.
How are assets split in a divorce in Georgia?
In Georgia, all marital property gets divided between the spouses, while separate property does not. For the most part, each spouse can keep his or her own separate property after a divorce. Dividing marital property is not as easy as simply dividing it in half. Judges and court officials always aim to attain fairness.
Are assets split 50/50 in divorce in Georgia?
Georgia is an equitable distribution state. Upon divorce, spouses are not guaranteed an equal split of their marital property. Generally, equitable distribution does result in the division of the estate 50/50 unless there is a reason to give one spouse a greater portion of the marital property.
What assets Cannot be split in a divorce?
In equitable distribution states, premarital property, gifts and inheritances are usually excluded from division. The central component that makes community property states different from equitable distribution states is how the court treats marital assets.
What happens to marital property in divorce?
As part of the divorce process, you will have to define, declare and value all of your current assets. This includes any assets you have held in partnerships, trusts or companies. However, significant ‘credit’ may be given to the party responsible for bringing the asset into the marriage.
Who keeps the house in a divorce in GA?
During divorce in Georgia, separate property is typically retained its original owner. Marital property, on the other hand, is subject to division according to the principle of equitable distribution. This means that the property is divided between the spouses according to what is “equitable,” or fair.
How is property split in a divorce?
The basic presumption of the law is that matrimonial property and debts will be divided equally between the spouses. Matrimonial property, which also includes debts, will be divided equally between the divorcing spouses unless special circumstances make an equal division unfair.
How is real estate split in a divorce?
There are three main ways to handle the home:
- Sell the house and split the proceeds.
- One ex-spouse keeps the home and refinances the mortgage to remove the other from the loan.
- Both former spouses keep the house temporarily.
Who gets the house in a divorce in Georgia?
Can I be forced to sell my house in a divorce?
We often get this question in the context of a divorcing couple. And the short answer is, “Yes.” The court can force you to sell your home because they have the authority to transfer property from one spouse to another or to order property sold pursuant to a dissolution of marriage.
Can the wife keep the house in a divorce?
Either you can reach an agreement with your spouse on how to divide assets, or a court will decide the matter for you. If that spouse takes specific steps to keep the house as a separate asset during the marriage, then he or she will get to keep the house in a divorce.
How is property divided in divorce in Georgia?
Georgia Property Division. Property Distribution Laws in Georgia. In Georgia, the courts generally accept a fair and reasonable property division the parties agree to, but if the parties cannot agree, the Superior Court divides the marital estate within the Judgment of Divorce. Georgia is an equitable distribution state.
What does equitable mean in a divorce in Georgia?
Georgia is an equitable distribution state. Equitable does not mean equal, or even half, but rather what the Superior Court considers fair. When the parties are unable to reach a settlement, the case goes to court. Each spouse keeps his or her separate property and the court divides the property acquired during the marriage on an equitable basis.
When is marital property subject to equitable division?
There are specific rules, set out in case law, for determining which assets are separate and which are marital property. The general rule is that all property acquired by either spouse during the course of the marriage, regardless of title, is marital property and subject to equitable division.
How does sole ownership work for real estate in Georgia?
The FAQ below addresses some of the most common questions about real property ownership in Georgia. In Georgia, here are a few ways in which you can hold title to property: Sole Ownership: owned entirely by one person. Words in the deed such as “Bill, a single man” establish title as sole ownership.