11 Nov Separation Of Property In A South Carolina Divorce
Separation Of Property In A South Carolina Divorce
When you are going through a divorce in South Carolina, you’ll likely have a number of questions. From how to file divorce to whether the state is a community or separate property state, choosing a skilled Pawleys Island family lawyers is the best way to make the process as smooth as possible.
South Carolina is an equitable division state, but your marital property will likely be split 50 / 50, or at least very close to it. But understanding exactly how that property is split can be a complicated process. The Hopkins Law Firm is experienced in helping individuals get through the divorce process and requesting the property they want in the divorce decree.
What Is An Equitable Division State?
An Equitable Division State, like South Carolina, the majority of marital property is considered “separate property” of each partner. Essentially, it’s not important to whom the property is titled or deeded, but rather, if the property is considered marital property.
When it comes to dividing property in a South Carolina divorce, the judge will use a series of rules to determine who gets what. The rules will help the judge determine if the belongings are marital property. To make the decision, the judge will consider the length of the marriage, the ages of both partners, if the property was purchased during the marriage and if marital funds were used to purchase the property.
How Is Equity Interest Determined?
During a South Carolina divorce proceeding, the judge will divide the equity interest of marital property. For example, the judge will take into account both partner’s household contribution when determining the equity interest of the marital home. But, financial contribution isn’t the only thing considered. The judge will also contemplate the “sweat equity” from a spouse.
What Property Will I Get In A South Carolina Divorce?
Determining the property you’ll receive during your divorce may not be possible, at least with complete certainty. Hiring a family law attorney in Pawleys Island can best prepare you for how to approach the divorce and help you decide what property is most important to you. While your South Carolina divorce lawyer can give you an estimation of what to expect from the proceedings, no lawyer will know for sure.
Ultimately, the divorce will come down to you and your spouse agreeing on how property and other assets should be divided, or a family court judge will be forced to make that decision for you. If a judge is to decide, the division will depend on the nature of the property. For a marital home, the judge will typically order the property to be sold and the positive revenue split or one partner will need to “buy out” the other party and refinance the home in their name alone.
How To Handle South Carolina Divorce
Before you agree to any division of property with your spouse, consult with a Pawleys Island family lawyer. A consultation with the Hopkins Law Firm can help address your questions and develop a plan for the smoothest separation possible.