In Connecticut, there is no such thing as separate property if you are married. If you owned a house or property when you got married, your spouse is now a partner in that ownership. If you decide to divorce, how will the house be divided?
You and your soon-to-be ex could agree to sell the family home and divide the proceeds. But if selling the home is not an option, and the two of you have not agreed on a martial settlement, the judge will make the decision for you.
The judge will decide on an equitable distribution of the valued property. His or her calculation is based on what he or she believes to be fair, but not necessarily equal. It could be 50-50, but also can be 60-40, 70-30 or another ratio. Factors such as length of marriage, reasons for the divorce and each of your available income, as well as your needs, are considered.
The judge then may order the house sold and the proceeds dispersed per his or her calculations. A portion of your or your spouse’s proceedings may also be offset by the value of another asset acquired in the property division.
If it is agreed that one of you can keep the house, the one who does so may have to buy the other party out by paying them his or her share of the equity interest. If you are no longer the owner of the house, you will probably want to have your name removed from the deed. This can be done by signing a quitclaim deed. Another option is for whoever keeps the house to refinance it under his or her name only, relieving the other party of any financial responsibility for the mortgage.
It is best if your attorneys work together and help you and your soon-to-be ex come to agreements without the assistance of the judge. This allows you much more of a say in how your property is divided.
Source: LegalZoom, “Can a Spouse Get Half of the House in a Divorce in Connecticut?,” Heather Frances, accessed Dec. 21, 2017