Tuesday, April 29, 2008

Divorce and the Home

So what to do with the marital residence now that you are getting divorced?

Indiana law does not say exactly what might happen. It is possible for both sides to come to an agreement. No agreement means that the judge decides and the law clearly gives to the judge a whole lot of discretion. The odds favor both parties not liking whatever the judge does with the marital residence.

I see that The Ohio Family Law Blog has a rather long post on the subject, I Want to Keep the House, But Should I?. I really cannot quibble with anything in the article about any great differences with Indiana law but the law is of secondary importance here. Of greater importance is the reality of the real estate market. Indiana courts will do as much as they can to calibrate the law to the economic realities but the courts still must act at some point. Better that you and your spouse recognize this reality about real estate and work together to maximize your asset.

4 comments:

Steven Campbell said...

Does it make Indiana a bad state to do a divorce? thanks

Sam Hasler said...

Define a bad state to do a divorce. Or better yet: define a good state for divorce.

Leann Rolen said...

It is so sad to see a marriage tore down into assests. At least there are people who post information such as this for those who are having to go through this. Thanks for the information.

Sam Hasler said...

You are welcome. I agree that it is sad but even sadder would be setting out the parties to a divorce into the wider world without a fair adjustment of assets and debts.