When a couple decides to divorce, one of the most significant and emotionally charged questions they face is, “Who gets the house?” The family home is often the most valuable asset in the marriage, and it holds sentimental value and memories.
In Missouri, the answer to this question depends on several factors, including the unique circumstances of your marriage and divorce.
How Marital Property is Divided in Divorce in Missouri
Missouri is an “equitable distribution” state, which means that the court aims to divide marital property fairly, but not necessarily equally, between spouses.
Marital property is generally any property acquired during the marriage, regardless of whose name is on the title. Separate property, on the other hand, is property that one spouse owned before the marriage or that they acquired during the marriage through inheritance or gift.
When determining how to divide marital property, the court considers factors such as each spouse’s contribution to the acquisition of the property, the economic circumstances of each spouse, the value of each spouse’s separate property, and the conduct of the parties during the marriage.
Determining Who Gets the House in a Missouri Divorce
In many divorces, the house is the most significant asset the couple owns. So, what happens to it? There are typically three options:
One Spouse Keeps the House
If one spouse wants to keep the house, they can buy out the other spouse’s interest in the property. This usually involves refinancing the mortgage in that spouse’s name alone and paying the other spouse their share of the equity.
Before pursuing this option, it’s crucial to consider the financial implications. Can you afford the mortgage payments, property taxes, insurance, and upkeep on your own? Will you need to give up other assets, like retirement accounts or investments, to offset your spouse’s share of the equity?
Selling the House and Splitting the Proceeds
In many cases, selling the house and splitting the proceeds is the cleanest way to divide this asset. This is particularly true if neither spouse can afford to keep the house on their own or if there is significant equity in the property that could be used to start fresh after the divorce.
When you sell the house, any remaining mortgage balance and closing costs will be paid off, and the remaining proceeds will be divided between you and your spouse as part of your divorce settlement.
Continuing to Co-Own the House
In rare cases, divorcing couples may choose to continue co-owning the house for a period of time after the divorce. This is usually only a viable option if the divorce is amicable and both spouses are committed to making the arrangement work.
Continued co-ownership might make sense if, for example, you want to maintain stability for your children until they finish school. However, this arrangement can be challenging, as it requires ongoing communication and cooperation between ex-spouses.
Factors Courts May Consider in Awarding the Marital Home
If you and your spouse can’t agree on what happens to the house, the court will decide for you. Some of the factors judges may consider when awarding the marital home include:
- Each spouse’s financial situation and ability to afford the home
- The ability of the spouse who wants to keep the home to refinance the mortgage and remove the other spouse’s name
- The custody arrangement for any minor children
- Any valid prenuptial or postnuptial agreements
What if the House is One Spouse’s Separate Property?
If the house was owned by one spouse before the marriage, or if it was inherited or gifted to one spouse during the marriage, it may be considered separate property. Separate property generally remains with the owning spouse in a divorce.
However, there are situations where separate property can become marital property, in whole or in part. For example, if marital funds were used to pay the mortgage or if significant improvements were made to the house during the marriage, the non-owning spouse may be entitled to a portion of the home’s value.
Proving that a house is a separate property can be difficult and may require tracing the source of funds used to purchase and maintain the home. An experienced divorce attorney can help you make a case for your separate property claim.
Negotiating a Settlement Agreement for the House
Whenever possible, it’s best to work out a settlement agreement with your spouse about what happens to the marital home. Negotiating a settlement outside of court gives you more control over the outcome and can save you time, money, and stress.
A skilled divorce lawyer can advocate for your interests in settlement negotiations and help you draft an agreement that protects your rights and sets you up for success in the next chapter of your life.
Handling a House in an Uncontested Divorce
If you and your spouse agree on all aspects of your divorce, including what happens to the marital home, you may be able to file for an uncontested divorce. In an uncontested divorce, you typically don’t have to appear in court, and the process moves more quickly.
However, even in an amicable divorce, it’s wise to have your own legal representation. An attorney can ensure that your rights are protected and that the agreement you’ve reached is fair and legally sound.
Protect Your Property Rights in Divorce With Raza Family Law Solutions
Divorcing spouses often have a lot of questions about who gets the house in a divorce, and understandably so. Your home is not just a financial asset; it’s a part of your life and your family’s history.
At Raza Family Law Solutions, we’re here to help you navigate the process of dividing property in your divorce. Our knowledgeable attorneys can:
- Evaluate your property rights and help you understand your options
- Advocate for your interests in court or at the negotiating table
- Provide guidance on the financial and tax implications of your property division decisions
- Draft and review settlement agreements to ensure your rights are protected
Whether you want to keep the marital home, sell it, and start fresh, or find a creative solution that works for your unique situation, we’re here to help.
If you’re facing a divorce in Missouri and have questions about who gets the house, contact Raza Family Law Solutions today.
