To Keep, Sell, or Refinance the House in Virginia Divorce Real estate is easy. Either one or the other of you keeps it, in which case you refinance the mortgage to remove your spouse from liability, or you sell it and split the proceeds. There’s not a lot of options, so we can often cut to the chase pretty quickly. I want to keep the house. Great! I get it. It’s an emotional thing. You’ve had some good memories there – where you brought your kids home from the hospital, where you watched … [Read more...]
Vacation Homes and Divorce
Equitable distribution is the fancy way we describe how property is divided in the Virginia divorce process. Under equitable distribution, the court looks at all a couple’s assets (the things that are worth money) and liabilities (yes, your debt gets divided, too!) and makes a determination about what each former spouse should take away from the marriage. How are assets and debts divided in Virginia? There are two ways that assets and debts can be divided in Virginia divorce. Either an … [Read more...]
