How best to handle property issues in a divorce?
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How best to handle property issues in a divorce?
I am getting ready to file for divorce due to an unfaithful wife. I purchased my home 6 years before we got married. Right now there is no equity in the home and we have been married 13m years with an 18 year old son. Do you think I will get the house and she will have to move out? Also, I need a new car, should I purchase one before I file? Finally, should I wait for her to go back to work?
Asked on March 2, 2012 under Family Law, Illinois
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If you purchased your home six years before you got married, did you purchase it together? If so, then it was probably converted into marital property after marriage especially if the title changed to joint tenants with right of survivorship. Even if it wasn't, the argument could be that the property is or should be considered as marital property to be divided according to your state's divorce laws. If there is no equity in the home, does this mean you are underwater financially? If so, you may consider what you wish to do with the home before you decide to file. If your wish to file bankruptcy or have the home foreclosed on or a deed in lieu or both, then you need to consider that before you try to purchase a new car. The impact any job she has will be positive for you because you may not have to provide as much alimony.
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