Can I keep the shared house after the divorce?
July 2, 2023 | 30,00 EUR | answered by Alexander Hartmann
Dear lawyer,
My name is Georg Hemminger and I am facing the difficult situation of an upcoming divorce. My wife and I own a shared house, which belongs to both of us. Now I am wondering if it is possible for me to keep the house after the divorce.
Regarding the current situation: My wife and I bought the house together several years ago. We both invested in the house and jointly paid it off. However, it was mainly my financial resources that went into the purchase and renovation of the house. In recent years, I have also taken on most of the payments for the ongoing costs of the house.
The current status is as follows: My wife and I have decided to get a divorce. However, the house has not yet been divided or sold. Now I am concerned that I could lose the house and I am wondering if it is possible for me to keep it.
My concerns mainly lie in the fact that the house is not just a place to live for me, but also a financial investment that I do not want to lose. Furthermore, it would be important for me and our children to be able to stay in their familiar environment.
Therefore, my question to you as a divorce lawyer: Is there a possibility for me to keep the shared house after the divorce? What steps would need to be taken and what legal options are available to me? I would be very grateful for your expertise and support in this matter.
Thank you in advance.
Sincerely,
Georg Hemminger
Dear Mr. Georg Hemminger,
Thank you for your inquiry regarding the shared house in the context of your upcoming divorce. It is understandable that you are concerned about the future of the house, especially if it is not only a residence for you but also a financial investment. I will now outline the legal options available to you to potentially retain the house after the divorce.
First and foremost, it is important to know that in a divorce, the so-called marital property division law applies. This means that the assets acquired during the marriage should be divided fairly. Since you have indicated that you mainly provided the financial resources for the purchase and renovation of the house, this could be taken into account in the division.
In your case, it may be possible for you to keep the house by offering your wife a compensation payment. This payment could cover the value of your wife's share in the house, based on the investments made during the marriage. It is advisable to make a detailed list of all investments and payments to get an overview of the financial situation.
Furthermore, you could reach an agreement with your wife regarding the division of the house. If your wife is willing to transfer the house to you and receive a fair compensation payment in return, this could be a solution. However, this agreement should be legally secured to avoid future disputes.
It is also possible to jointly retain the house and agree on a division in the form of co-ownership. In this case, clear regulations would have to be established, such as who bears which costs and how the use of the house is regulated.
I strongly recommend that you consult with an experienced divorce lawyer to discuss your individual situation and find a tailored solution. A lawyer can help you represent your interests to the best of your ability and legally protect them.
I hope this information is helpful to you and wish you success in resolving this matter.
Sincerely,
Alexander Hartmann
Divorce Lawyer
