Does Mediation Decide Who Gets the House?-Learning More about Marital Property Division

Does Mediation Decide Who Gets the House?-Learning More about Marital Property Division

Mediation is one of the commonly used methods when negotiating divorce settlements. In divorce mediations, divorcing couples, in some instances, and their respective lawyers hire mediator to meet with them to discuss and resolve the issues associated with the divorce. The mediator does not really make the decision for the couple, but rather, serves as a facilitator to help divorcing couples figure out what is best for them and their relationship. https://rhinomediation.co.uk/

Any person undergoing divorce must consider mediation that can work for most couples and comes with lots of great benefits such as:

  • Majority of mediations end up in settlement of divorce issues
  • This option is less expensive than court trials or series of court hearings
  • Mediations are confidential without public record of what really goes into your session
  • Mediation enables you to come up with a solution based on your own thoughts and ideas of what is really fair in your own unique situation instead of imposing solutions that are just based on impersonal and rigid legal principles
  • You and your spouse and not the court can take control of the process
  • You can still have an attorney to give you legal recommendations and advise if you want
  • Mediation process is known to improve communication between spouses helping them to avoid conflicts in the future

Does Mediation Decide Who Gets the House?

As a married couple, both of you have certainly worked hard all throughout your married years. You have purchased a house, saved some for retirement or have probably treated yourself to a new car. However, now that you are divorcing, you are thinking about the division of assets.

Being in your situation, you probably wonder what is equitable distribution, how to determine marital property and non-marital and who gets what’s in divorce and how it is actually determined. You wanted to ensure that the entire amount you have worked ultimately hard for won’t end up getting wasted on unnecessary legal fees.

The House and the Equity

The very first issue with regard to family home is usually determination of who will actually retain the possession while divorce is still pending. This is usually made by the spouses out of court. Eventually, it must be decided if the house will be given to you or to your spouse or will just be sold. If divorcing couples failed to come up with an agreement concerning the house, the judge can decide.

When it comes to equity, regardless of who gets the house, the court often consider whether the spouse not getting the house will be compensated for equity. By equity, it means difference between home value and money owed in mortgage against the residential property.

Who gets the house is a common scenario between divorcing couples. But whatever decision divorcing couples may come up, it must be based on mutual decision. Mediation can somehow play part. Mediator can act as facilitator between couples and help them decide for what’s best.

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