Many things are contentious in divorce, but property division in Pennsylvania is one key topic you and your spouse may fight over. The process of your divorce depends on a few factors including whether it is a fault or no-fault divorce. The court determines the division of all your assets including the home you live in.
Run by financial planners, SmartAsset.com states the court can divide any property acquired during your marriage. However, not all of your assets fall under marital property. While there may be some exceptions, you can generally keep the inheritance you received, any property you owned before getting married or acquired upon final separation and your veterans’ benefits.
The court may look at a variety of factors to ensure there is an equitable division of your marital assets. Tax ramifications, income, spouse employability, economic circumstances, future earning capabilities and standard of living can all affect the financial implications of the division of assets. The judge may also look at how healthy and old each of you are along with the length of your marriage in their decision.
However, if you contributed to your spouse’s education, that may work in your favor as they are more employable with higher earning capabilities in the future. A house received from a prior marriage would not qualify as a marital asset allowing you to keep the home.
With so many factors, it can be difficult to determine who gets your house without speaking to a divorce attorney. This information is intended only to educate and should not be interpreted as legal advice.
