One of the most important aspects during the divorce process is definitely dividing property. There might be many aspects that are of huge importance to you and you might have questions about how the process works. Today we will take a closer look at property and debt division and how it affects you.
The Different Types of Property
There are two major types of property: community and non-community property. Community property is all earnings during marriage and anything that is bought with the help of these earnings. Separate property is a bit different. Separate property differs because it is the types of property that have been given to you either through gifts or inheritance.
In California, all property between two married people is considered to be community property. Community property is generally divided between the spouses, while each spouse will keep their separate property depending on how this has been decided.
Who Keeps the House?
This is a very important question that you might be particularly curious about. Are children involved in your divorce scenario? If so, then the parent who spends the most time with the children might be more likely to remain in the marital home. If you don’t have children, these things become a bit more complicated. If you and your spouse are unable to decide who gets to keep the house, the court will decide for you during divorce proceedings.
It is important to have an attorney on your side if you are going through a divorce and you have possessions that mean everything to you. We want to help in your time of need. Call us for more information on how we can help you in the midst of these difficult matters.