A vacation home is a major asset, so it’s only natural to wonder who might get it in the event of a divorce. Since every couples’ situation is different, there is no set procedure for awarding real estate during the proceedings. However, divorce attorneys must often remind clients that there are only a few possible ways to approach the situation, and the final outcome will depend on a variety of factors. Here is what you should know about the different ways to address a vacation home when ending a marriage. 

If Both Spouses Want to Keep the Home 

If the vacation home has sentimental value or provides rental income—or both—each party may want to keep it. In such a scenario, it may be possible for them to retain joint ownership, but they will have to work together in some capacity for as long as they do. Otherwise, they can proceed to court, where a judge will award the home to one party, thereby cutting ties between them and ensuring a fresh start for each. 

If One Spouse Wants to Keep the Home

If only one spouse wants to retain ownership, he or she can buy out the other spouse. If the couple has other assets, though, an actual buyout may not be necessary. Instead, the spouse who does not keep the home can secure a different asset to make up for it. Since Ohio is an equitable distribution state, there is some flexibility in this aspect because each party is not necessarily entitled to exactly 50% of the marital property. If this is the situation you find yourself in, a divorce attorney can help you negotiate for a fair arrangement. 

If Neither Spouse Wants to Keep the Home 

When neither party wants to keep the vacation home, selling it is the simplest solution. The couple can then split the proceeds fairly. In these scenarios, it is wise to hire a divorce attorney who also has experience navigating real estate transactions. This will help streamline the proceedings and prevent the need to hire two separate lawyers. 

If you need a divorce attorney in Ohio, turn to Don Roberts Law Offices. Based in Dublin and serving clients throughout Franklin County, this full-service firm practices criminal defense, family law, estate planning, and civil litigation. Whether you need a compassionate child custody lawyer or a strategic defense attorney, you can count on them. To request an initial consultation, fill out the form on their website or call (614) 777-4500.

_{Don Roberts Law Offices is based in Columbus, Ohio, but serves clients throughout the State of Ohio. Our office in Hilliard, Ohio is convenient to Dublin, New Jefferson, Bexley, Westerville, New Albany, Hilliard, Grove City, Reynoldsburg, Gahanna, and other Franklin County municipalities. Our office is located in central Ohio and is just a short drive to/from anywhere in Ohio.  Attorney Advertising. This website is designed for general information only and should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. See our profile at Avvo.com or Martindale.com.}