One of the first “unknowns” you may encounter when you begin the divorce process is who will get to stay in the marital residence while the divorce is pending. Regardless of whether your marital residence is an apartment or house, whether you’re renting or you own the property, the court can order one spouse to vacate the residence and award possession to the other. A spouse who is seeking to remain in the home (or, a spouse who is looking to remove his or her spouse from the home) may file a motion for exclusive possession of the marital residence.
In a divorce, it’s likely your martial home is one of the most valuable assets you and your spouse own. Regardless of which spouse keeps the home, the equity in the home will need to be divided. Equity is the difference between the value of the home and the amount owed in mortgages (or other liens, such as a home equity line of credit) against the property. To determine how much equity is in your home, you’ll need to determine the value of your home. This can be determined a number of ways in a divorce in Nebraska. You and
A major component of a divorce in Nebraska is the division of the marital estate. The marital estate is comprised of the assets and debts acquired during the course of the marriage (except for property deemed non-marital). But how do you know which date to use to value the marital estate? What if the parties file for divorce in January, but continue living together and maintain their finances together until their divorce is final in October? What if the parties are still married, but have been living separately (physically and financially) for the last eight months? What if the court
One of the biggest decisions to be made during the divorce process is what will happen to the family home? This decision is more than just a legal one. It impacts both emotions and finances. Although there are many factors to consider, generally there two options for the home – either one spouse will keep it or it will be sold. Option A. One Spouse keeps the home. How do you decide who keeps the home? Deciding who will remain in the family home is a big decision. If spouses can’t agree who will remain in the home after the
The marital estate includes all property, assets, debts, and liabilities acquired by the parties during the course of the marriage. The marital estate does not include property acquired through a gift or inheritance. Similarly, the marital estate does not include property acquired by one spouse before the marriage. If the premarital property can be easily identified at the time of the divorce, it will not ordinarily be included as a part of the marital estate to be divided. For marital property, it does not matter how the property or debts are titled. For example, if one spouse has a retirement
I put my “marital residence” on the market upon filing for divorce. It sat there for months without a bright red SOLD sign on it. I tidied the entire house for numerous showings, which I can assure you with two small children is no slight feat. I received multiple offers on the property – all of which I was financially unable to accept. My daughters and I have perpetually been uncertain about where we would be living in the next 60 days. All while going through a divorce. With the decline in the housing market and the depressed economy, we