Who Gets The House?

Decent Essays

Who Gets the House?

Georgia is an equitable distribution state. In the event of a divorce, all property acquired during the marriage must be divided "fairly and equitably". This does not mean that all assets will be divided equally, and it does not mean that property each party had prior to the marriage is necessarily excluded from equitable division. This includes the house.
Things that may be considered property include, but are not limited to:

houses businesses bank accounts automobiles

jewelry furnishing artwork stocks and bonds

pensions electronics boats, ATV 's, etc retirement plans

In short, everything that you own which either has value or generates income is going to be divided up. Some states, like New York, will even include the value of degrees, licenses, and professional certifications that were earned during the marriage in the property calculations. At present, Georgia does not do this, but it does not mean someone will not try to include them in the settlement.

Depending on your career and investment success, one asset that probably ranks among the most valuable is the house. The house is also the most difficult asset to "equitably divide". While the courts cannot place a value on memories, people often do. After all, a lifetime of memories is not always easy to part with, even if the memories were not all great. The emotions associated with a house can cause a great divide even when other assets are split amenably. When children are

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