What happens to the shared house in a divorce?
May 18, 2024 | 40,00 EUR | answered by Johann König
Dear lawyer,
I am reaching out to you with a question regarding divorce law. My name is Sebastian Krause and I am currently in a difficult situation as my wife and I are considering separating. We own a house together, which we purchased during our marriage. I am concerned about what will happen to this house in the event of a divorce.
The situation is as follows: We bought the house together five years ago, and both of our names are on the property deed as owners. We took out a loan together to finance the house, and have been making payments on it together since then. We do not have any children who would need to be considered in the decision.
At present, we are separating amicably and seeking a mutual divorce. We want to treat each other fairly and find a solution that is acceptable to both parties. However, I am unsure about the legal situation regarding our shared house.
My concern is that I could lose the house or have to provide financial compensation to my wife, even though we have both contributed to paying for the house. Therefore, I am wondering what will happen to the shared house in the event of a divorce and what options are available to find a fair solution that takes into account both my interests and those of my wife.
I would greatly appreciate it if you could answer this question for me and provide me with possible solutions. I want to ensure that my rights are protected and that I am not disadvantaged after the divorce.
Thank you in advance for your assistance.
Sincerely,
Sebastian Krause
Dear Mr. Krause,
Thank you for your inquiry regarding divorce law in relation to your shared house. I understand that you are in a difficult situation and are concerned about the future of the house. In such cases, it is important to understand the legal situation accurately and to find possible solutions that are fair and just for both parties.
First and foremost, it is important to know that in the case of divorce, the so-called marital property regime applies. This means that generally, the assets acquired during the marriage are divided equally, unless different agreements have been made. In your case, you both acquired the house together and are both listed as owners in the land register. This means that the house is generally part of the shared assets and will be taken into consideration in the division of assets.
Since you are aiming to achieve an amicable divorce, it is advisable that you and your wife find a mutually agreeable solution regarding the house. This could mean, for example, that one of you takes over the house and buys out the other. Alternatively, you could also agree to sell the house and split the proceeds equally.
It is important that you consider all financial aspects in the division of shared assets to ensure that both sides are treated fairly. If you and your wife cannot reach an agreement, it may be beneficial to involve a mediator who can assist you in finding a solution.
In any case, I recommend seeking legal advice in a timely manner to protect your rights and find a fair solution. A specialist in family law can assist you in this process and help you in advocating for your interests.
I hope that this information has been helpful to you and I am available for any further questions you may have. I wish you all the best for the future and hope that you can find a satisfactory solution for both parties.
Kind regards,
Johann König
