Dividing Real Estate in Alpharetta

When spouses get divorced, they must divide their marital assets, usually involving many types of property. Real property is one of many assets that the court will have to divide between divorcing spouses. Houses and other real property can be challenging to divide equitably between both spouses, often necessitating the guidance of an attorney.

If you are concerned about dividing real estate in Alpharetta during a divorce, you should work with an experienced attorney on our team. There may be multiple ways distribute your assets and protect those most important to you.

Marital and Separate Property

Alpharetta courts do not divide assets equally, but rather equitably. Before the court can divide real estate and other property, it must determine which assets belong to individual spouses versus which belong to the marital estate.

Property one party acquired prior to marriage, through inheritance, or as a gift is considered separate property and belongs to the party who obtained that asset. Marital property includes any assets gained during the course of a couple’s marriage, excluding gifts and inheritance. An attorney can help divorcing spouses understand what assets belong to them individually and which they own jointly.

Potential Challenges in Dividing Real Estate

Parties to a divorce may divide real estate in several ways. If the individuals have the assets available to do so, one party may buy the other out and maintain ownership of real property. This often happens with the marital home, as one party may want to keep the house because they intend to keep their children in that home, for example.

However, it is not always possible to offset a piece of real estate with other assets. In many cases, a family will need to sell their marital home and divide the money earned in that sale.

On rare occasions, the parties may choose to retain joint ownership of the home. If the couple agrees that keeping their children in the house is the best option, they can agree to sell the home later and divide the proceeds at that time. The best option will depend on the individual factors of a case, including whether the parties are willing to negotiate for more creative solutions.

How do Local Courts Decide Ownership of Real Estate in a Contested Case?

Alpharetta courts must consider a variety of factors when equitably dividing a couple’s real estate property. Some of these factors include:

  • Any alimony awards
  • Individual assets owned by either spouse
  • The financial status of either party
  • The earning capacity and income of both parties
  • Any wrongful dissipation or waste of assets by either party
  • Future needs of the parties, including retirement plans
  • Any misconduct by either party that took place during their marriage
  • Each party’s share of debt

The main determining factor in whether and how a piece of real estate will be divided is what the judge deems to be fair given these and any other relevant circumstances. It is also worth noting that neither party is required to move out of the family home until the court orders one of the individuals to leave.

Work with an Attorney to Divide Real Estate in Alpharetta

Understanding the implications of property division in a divorce case can be frustrating and difficult. Dividing real estate in Alpharetta is no exception and often leads to conflict and challenging negotiations between spouses. Speak to our team to learn more about the division of real property in divorce cases.

Recent Blog Posts
What Is Parental Alienation?
When parents live apart, sometimes one person holds a grudge or becomes bitter about the relationship. Unfortunately, when parents...
Is Georgia a Community Property State?
People considering divorce often worry about how dissolving the marriage will impact them financially. The specifics depend on how...
How Long Does Divorce Take in Georgia?
When you are ready to end your marriage, you might want your divorce to be final as quickly as...
View All Posts