Dividing assets during a divorce can feel overwhelming, especially when it comes to your family home. You probably want to know who gets to keep the house in a Minnesota divorce. The answer depends on several factors, but understanding the basics can help you prepare.
What is marital property?
In Minnesota, most property acquired during the marriage is considered marital property. This includes the family home, regardless of whose name is on the deed. Both spouses generally have equal rights to marital property.
How does the court decide?
Minnesota follows an equitable distribution system. This means the court divides property fairly but not necessarily equally. When deciding who keeps the house, the court looks at factors like each spouse’s financial situation, contributions to the home, and custody arrangements if children are involved.
Options for handling the house
Often, spouses can agree on what to do with the house. One spouse might buy out the other’s share, or the couple may decide to sell the home and split the proceeds. If children live in the home, the court may award the house to the parent with primary custody to provide stability.
What to keep in mind
Keep in mind that keeping the house means taking on mortgage payments, taxes, and maintenance costs. Sometimes selling the home and dividing the money makes more sense financially for both parties.
Understanding how Minnesota courts handle the family home can help you make informed decisions during your divorce. Each case is unique, but knowing these basics sets a strong foundation.