When a couple decides to end their marriage, they split assets and some assets can be hard to determine who will get which pieces of property. One of the largest and most controversial assets couples split is their house. In Arkansas, determining who gets the house in a divorce can depend on a lot of factors. It is important to understand the variables that influence the decision to have lower stress during the divorce period. In this article, we will touch upon an alternative solution that allows homeowners to sell their house quickly and hassle-free so that the divorce can move forward with as little friction as possible.
Who Gets the House in a Divorce?
Divorce laws regarding the division of assets, including the couple’s house, may vary from state to state, but in Arkansas, the focus is on equitable division of property.
- Community property principles. Assets acquired during the marriage are divided between spouses which means equally.
- Separate property principles. Assets acquired before marriage or through gifts/inheritance are considered separate and retained by the original owner, aligning with the concepts of non-marital property and property division.
- Equitable distribution. This means the court aims to divide property fairly, considering various factors to achieve a fair outcome. This is what Arkansas follows.
What You Need to Know About Divorce Laws in Arkansas
Divorce laws in Arkansas require the use of the principle called equitable distribution. This is a fundamental aspect of Arkansas courts in dividing marital property. In this principle, marital property is fair, though not necessarily equal between spouses. Here are various factors that the court takes into consideration:
- Separate property ownership
- Marital contributions
- Family circumstances
- If one spouse has primary custody, they may have a stronger claim to the house.
- If one spouse had sole ownership of the house before the marriage, it may be considered separate property and impact the division outcome.
- Financial situations that may impact the ability to maintain the property.
Is Arkansas a 50/50 Divorce State?
There is always the question of whether the state follows a 50/50 split rule in a divorce procedure. Is Arkansas a 50/50 divorce state? No, but divorcing couples have an alternative to a court decision, often involving mediation on property division. The division of assets may not always be equal, but the court aims to distribute fair and justly.
Divorcing couples can also choose between mediation or collaborative divorce. This allows them to negotiate and reach an agreement on the division of assets, including the house, according to the principles of property division. This provides greater control over the result and promotes a good resolution.
Reasons Why You Should Sell Your House to an Investor
In Arkansas, determining who gets the house during a divorce can be difficult to understand without knowing Arkansas law on property and debt division. Selling the house may be the most practical solution. Selling to a local investor has many advantages that give you convenience and efficiency.
By working with investors, you can ensure a quick sale. This also means you get the cash within days or weeks. If you sell your house to an investor, this allows you to maximize your profits. You get the flexibility to choose the closing date, too. Plus, they serve as a lifeline for those facing foreclosure or financial difficulty.
Alto Home Buyers Can Help
Do you want an alternative route where you can experience a stress-free and efficient selling process for the house? Do you want to say goodbye to the traditional real estate process, fees, repair costs, and cleaning expenses? Through Alto Home Buyers, you can sell your house quickly, fairly, and without complications.
Alto Home Buyers can be the easy way to a difficult time. Contact us today to discover the easy way to navigate the challenges and sell your house hassle-free.
Frequently Asked Questions
Q: Who gets the house in a divorce in Arkansas?
A: The division of property in a divorce case in Arkansas, including the marital home, is governed by the principle of equitable distribution. This means that the court will divide the property in a way that is fair and just, taking into account various factors such as the length of the marriage, the financial circumstances of each spouse, and the best interests of any children involved.
Q: What is considered marital property in Arkansas?
A: Marital property in Arkansas refers to any property acquired by either spouse during the marriage. This can include real estate, vehicles, bank accounts, investments, and other assets. It does not matter whose name is listed on the title or deed; if the property was acquired during the marriage, it is generally considered marital property and subject to division.
Q: What is considered separate property in Arkansas?
A: Separate property in Arkansas refers to property that was owned by either spouse before the marriage or acquired during the marriage by gift or inheritance. This property is typically not subject to division and belongs solely to the owner’s spouse.
Q: How does the court divide the property in Arkansas divorce cases?
A: The court in Arkansas will consider various factors when dividing the marital property, including the length of the marriage, the financial circumstances of each spouse, their respective contributions to the marriage, and the best interests of any children involved. The goal is to achieve an equitable distribution of the property, which may or may not be an equal split.
Q: Can I keep the house in a divorce in Arkansas?
A: One spouse can keep the marital home in divorce in Arkansas, but it will depend on various factors such as the financial circumstances of both spouses, the ability of the spouse who wants to keep the house to afford it, and the best interests of any children involved. The court will consider these factors when making a decision.
Q: What happens to property in Arkansas if it was owned before the marriage?
A: Assets held by each spouse prior to the marriage are typically recognized as individual property and are not divided during a divorce.. However, it is important to note that if separate property is commingled with marital property or has significantly increased in value during the marriage, it may become subject to division.
Q: Can a prenuptial agreement affect the division of property in Arkansas?
A: Yes, a prenuptial agreement can have an impact on the division of property in Arkansas. If you and your spouse have a valid prenuptial agreement that outlines how the property should be divided in the event of a divorce, the court will generally uphold the terms of the agreement, as long as it was entered into voluntarily and meets the requirements of Arkansas law.
Q: What role do Arkansas courts play in property division cases?
A: Arkansas courts play a vital role in property division cases during divorce proceedings. They are responsible for evaluating the facts and circumstances of each case, considering relevant laws, and making determinations regarding the division of property. The court’s decisions are typically reflected in the final divorce decree.
Q: Can I sell the house during the divorce proceedings in Arkansas?
A: It is generally not advisable to sell the house during the divorce proceedings without the consent of your spouse or a court order. The sale of marital property during a divorce can have legal and financial implications, and it is best to consult with an experienced divorce attorney to understand your rights and options.
Q: What happens to investment property in a divorce in Arkansas?
A: Investment property, like any other property acquired during the marriage, is subject to division in a divorce case in Arkansas. The court will consider various factors when determining how the investment property will be split, such as its value, the financial circumstances of each spouse, and the best interests of any children involved.