Your home is more than just a building in a neighborhood where your family lives; it holds memories, cherished moments, joyful events. For that reason, dividing the family home during divorce often becomes one of the most logistically and emotionally challenging aspects of property division. Michigan’s equitable distribution laws require fair, though not necessarily equal, division of marital assets, including real estate properties.
When facing divorce in Michigan, you have several paths forward regarding your family home, such as:
At Robbins & Licavoli, PLLC, we recognize that understanding your options can play a large role in helping you protect your financial future during this difficult life transition. With years of experience as a family law firm, our property division attorneys can help you face this obstacle with compassion and confidence.
Marital property includes all assets acquired during the marriage, regardless of whose name appears on the title. Your family home typically falls into this category if purchased after your wedding date. Courts generally consider the home part of the marital estate and therefore subject to division.
Property that was owned before marriage or received as an individual gift or inheritance may qualify as separate property. However, complications can arise when separate property becomes intermixed with marital assets through mortgage payments, improvements, or refinancing using joint funds.
The most straightforward approach involves selling the property and dividing the net proceeds. This option works well when neither spouse can afford individual ownership or when both parties prefer to move on without holding onto prior assets.
When one party wishes to keep the home, several arrangements are possible. The retaining spouse may buy out the other’s equity share or receive the property in exchange for other marital assets of equivalent value.
Sometimes continued joint ownership is considered, particularly when minor children benefit from housing stability. These arrangements typically include specific timelines for eventual sale or buyout, along with clear responsibilities for mortgage payments and property maintenance.
When spouses cannot agree on property division, courts step in to make binding decisions. Judges examine all relevant factors (such as marriage length and contributions made by each spouse to the marital home) to determine a fair distribution that considers both parties’ needs and circumstances. They may order property appraisals, review financial records, and consider professional testimony to make informed decisions about how to divide the home.
Division of the family home during divorce requires careful consideration of your financial situation, housing needs, and long-term goals. Each option carries different implications for your future stability and security.
The experienced Franklin property division attorneys at Robbins & Licavoli understand the complexities of real estate division in Michigan divorces. Our team provides personal guidance to help you make informed decisions about how to divide your property while protecting your rights and family throughout the process. Contact us today to learn how we can help you through your divorce process.