Family Law, Divorce, Custody and Child Support Attorneys in Colorado Springs, Colorado

Real Property in Colorado Divorce Cases

There are two types of jurisdictions for the division of real property in divorces: community property and equitable division. Denver and Colorado divorce courts operate under the theory of equitable division. Basically, this means that each party will get what is fair under the law and in the eyes of the Court.

A divorce court will initially make determinations as to how property is categorized: either an individual spouse’s property or marital property. The division of property in a divorce may get tricky when attempting to identify separate property which one divorcing party claims from before the marriage.

Marital property, in short, is any property acquired after the date of marriage and prior to a decree of dissolution. This includes the increased value of any property that was held before the date of marriage. There are a few exceptions and caveats to this rule and our lawyers at Johnson Sauer Legal Group are well versed and experienced with these concerns.

The more property and assets a couple has when going through a divorce, the more complex the division process may be. Colorado divorce courts have many tests they use when determining how to equitably divide property and they include the following:

1. Length of the marriage;
2. The assets and debts of both parties;
3. Any prenuptial agreements;
4. Tax consequences;
5. The financial need of both parties;
6. Contributions of both parties to the assets (including the contribution a spouse makes as a homemaker);
7. Any separation agreements.

Divorces are highly emotional and usually the result of a breakdown of communication and trust between parties. We at Johnson Sauer Legal Group specialize in Family Law and understand how tricky many divorces can be, especially when it comes to the division of marital property. We have a team of experienced lawyers who have a reputation in Denver and throughout Colorado for ensuring their clients get their fair share of marital assets.

Our team of attorneys at Johnson Sauer Legal Group make certain that the worth of all assets are properly determined, that all assets of the other party are disclosed and accounted for, and that there is an equitable distribution of these assets. While many cases are solved amicably between parties, our lawyers at the Johnson Sauer Legal Group are not afraid to – and will aggressively – litigate your case if we believe the division of assets is not in your best interest.

If you have any questions regarding your specific case, please contact our Denver office at 303-394-3030 or fill out one of our online inquiry forms for a free consultation.

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House is in Their Name!

It’s not uncommon to find situations where a married couple has a home, but the title to the home is the name of only one spouse.  Occasionally, we’ll also see it where the title is in one name, but the mortgage is in both.

It happens more frequently than you might think and there are often very good reasons for it.  For example, one spouse’s credit may not be good enough for the mortgage company and so they require the home to be purchased only by the other spouse.  Or, one party owned the home before the marriage and rather than refinance the note, they just do a quit claim deed and transfer title to both names.

The thing to keep in mind about titles is that they don’t preclude an equitable interest.  If the home was purchased during the marriage, with marital funds, then it’s highly likely to be entirely marital property.  Even when a spouse owned the home before the marriage, and title is in their name only, the other spouse may have a substantial marital interest, depending on the facts of the case.

So, when it comes to title, be sure you seek out the help a lawyer to figure out what legal interest you might have in the property.

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Who Gets the House?

With the recent recession, how we approach the marital home has changed considerably.  It used to be, as divorce lawyers, we focused on how to divide up equity in the marital home and pay out one of the spouses with either an equalizing payment or allocation of another asset.  Now, we spend much more time dealing with properties in which there is no equity and we are mostly worried about paying the debt.

Often times, you have to begin with a practical evaluation – can either one afford the house?  If the answer is a clear “no”, then a prompt sale is often an option.  If the answer is that one spouse can afford it, but the other cannot, then we need to see if the capable spouse even wants the property.  If both can afford the mortgage and other expenses, and both want the house, then we need to leave the issue for the judge.

It’s one of the saddest discussions we have when we need to sit down with a client and get realistic about the marital home.  A person’s home is their castle.  It represents much more than just another asset or debt.  The idea of moving can trigger the great fear of the unknown and all the reactionary positioning that comes with it.  Yet avoiding this discussion, even for a few weeks, can work even further harm on the spouse and their children.  It’s an important discussion to have early on in the divorce process.

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