Who Gets the House in a Virginia Divorce? How Virginia Property Division Laws Apply
For many couples going through divorce in Virginia, the marital home is one of their most valuable possessions. It represents a significant investment of both time and money, but your house is more than just a piece of property. It often holds cherished memories as well.
It is common to want to keep a house to provide stability for your children, maintain a sense of community, or avoid moving costs. Our experienced Virginia divorce attorney explains how Virginia’s equitable division laws apply and what options are available.
How Virginia Divorce Laws Apply To The Marital Home
Under the Virginia Code (Section 20-107.3), all property and assets earned, acquired, or accumulated during a marriage are divided fairly, though not always equally, between the couple in a Virginia divorce. When dealing with a home, even if one spouse owned it before the marriage, it can still be subject to equitable division if the other spouse contributed to making mortgage payments or improvements to the property.
Determining what to do with a home can be a hotly contested issue. Factors the court considers include:
- Each spouse’s total contributions to the marriage.
- Their contributions in purchasing and maintaining the family home.
- Whether they can afford to keep up with mortgage payments and other costs after the divorce.
- The needs of children from the marriage, particularly regarding schools and involvement/support in the community.
- Property division negotiations and any proposed settlements.
Your Options for Keeping A Family Home After A Virginia Divorce
Virginia is a desirable place to live, and Zillow reports that the average home price has increased to well over $700,000. If you are getting a divorce and considering keeping your home, options available include:
- Buy out your spouse’s share: You can refinance the mortgage and pay your ex their portion of the home’s equity.
- Offset with other assets: If you cannot afford a buyout, you might give up a larger share of other marital property (such as retirement funds or vehicles) in exchange for keeping the house.
- Deferred sale agreements: In some cases, especially when children are still in school, the court may allow one spouse to remain in the home for a set period before requiring a sale.
Keeping the house also means taking on the mortgage, taxes, and upkeep. Weigh these and other factors to ensure they align with your post-divorce income and financial goals.
Contact Our Virginia Divorce Attorney To Discuss Your Options
The question of who keeps the family home is often one of the most vital and hotly contested issues in a Loudoun divorce. Be clear about your goals and have a strong legal strategy in negotiations.
At Schwartz Kalina, PLLC, we provide the trusted legal guidance that clients in our community need throughout the Virginia divorce process and fight to get you the best possible settlement. To discuss your options for dealing with the family home, call or contact us online. Request a consultation today with our experienced Virginia divorce attorney.
Sources:
law.lis.virginia.gov/vacode/title20/chapter6/section20-107.3/
zillow.com/home-values/1887/loudoun-county-va/
