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Oakland County divorce attorney property division

The division of marital property is often one of the most important considerations in a Michigan divorce. For many divorcing spouses, one of the top questions is, “Who gets the house?” You and your spouse may be able to reach an agreement about what to do with your house. Mediation and collaborative law are two alternative resolution methods that have helped countless divorcing couples reach property division settlements. If you cannot reach an agreement, the decision regarding possession of the marital home will be left to the court.

Options for Dividing the Marital Home

You and your spouse have several options when it comes to the marital home. You may decide to sell the home and then divide the profits. If one spouse wishes to retain possession of the home, you may decide on a property division arrangement in which the spouse who gets the home “buys out” the other spouse. This is usually accomplished by one spouse retaining possession of the home and the other spouse retaining possession of the marital property of an approximately equal value.

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Oakland County Bar Association State Bar of Michigan Collaborative Practice Institute of Michigan WCCDBA Woman Lawyers Association of Michigan
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