Menu
The Siemon Law Firm
Honest Answers.
866-497-5134
View Practice Areas

The house and divorce: generally, the biggest asset to deal with

For many divorcing parties across the United States, and certainly in Georgia, property division is a key consideration during the dissolution process. That is especially true for marriages of tenure, that is, those that have lasted for a number of years, thus allowing for a couple’s accretion of substantial and different types of assets. And, of course, the division of assets is always a key feature in high-asset divorce proceedings.

Generally speaking, the asset that ranks at the pinnacle for most divorcing couples is the family home.

And that is certainly not surprising. For years, it was probably -- along with kids, if any -- the primary family focus and the target for the biggest monthly financial outlay. Over time, and owing to both continued mortgage payments and increased home value, the house becomes of central economic importance to most couples.

One thing made crystal clear by the recent national economic collapse and housing crash, though, is that the simple combination of continued housing payments and the passage of time does not automatically equate anymore to increased home equity in all cases. Over the past few years, the ominous phrase “being underwater” has been heard by and responded to with angst and frustration by millions of homeowners, many in the divorce process.

Where questions surrounding a house or other real property feature prominently in a divorce, it is vital that a divorcing couple fully understands all central matters relating to disposition of the home, especially in a case where the property might be worth less now than in previous times.

An experienced divorce attorney with a proven background in property division matters can answer questions, provide clarity and represent a client with diligence regarding any issues relating to the division of assets in the divorce process.

Source: LoanSafe.org, "Mortgage options while going through a divorce," Evan Bedard, July 14, 2013

No Comments

Leave a comment
Comment Information
Contact our Georgia Family Law Firm by calling 866-497-5134 or by completing this contact form. An attorney will respond within 24 business hours.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

The Siemon Law Firm
347 Dahlonega Street, Building 100
Cumming, GA 30040
Phone: 770-888-5120
Fax: 770-521-4317
Cumming Law Office Map

The Siemon Law Firm
4555 Mansell Road, Suite 300
Alpharetta, GA 30022
Phone: 770-521-4316
Fax: 770-521-4317
Alpharetta Law Office Map

The Siemon Law Firm
3400 Peachtree Rd NE, Suite 555
Atlanta, GA 30326
Phone: 770-888-5078
Fax: 770-521-4317
Atlanta Law Office Map