Going through a divorce can be extremely traumatic and emotionally trying for many couples. The situation can become even more challenging when each spouse wants to divide property and assets that were purchased together. To understand how real estate is divided in a divorce, there are a few important facts to learn to prepare for the process.

Percentages are Awarded to Each Party

The property that is owned by a couple who is going through a divorce will be divided by as community property or equitable distribution. Community property is often divided equally between each spouse. Equitable distribution ensures that the property is divided fairly but not necessarily equally. According to nolo.com, the division of the property will include awarding each person a percentage of the total value of the property. For more information on divorce proceedings, click here.

The Court Often Intervenes

If one spouse wants to sell the property and the other wants to continue living in it, the court will need to intervene. The court may order that the property is sold, which can make it challenging to determine which broker to use. If children are involved, the judge will likely grant the home to the parent who has full custody. This does not, however, guarantee that the home will go to the spouse who has custody.

One Spouse May Be Granted Full Ownership of the Home

In many cases, the house was owned by one of the spouses before the two parties got married. This may allow the spouse to own the home 100 percent if they purchased it individually. If the second party contributed to the mortgage during the marriage, they may be granted interest by the judge. In the end, many couples are often forced to sell the home because it can be challenging for one spouse to own a home without the financial support of the other party.

A Spouse Can Buy the Other Out

Many spouses choose to buy out their spouse with the real estate that is owned, which will require a good appraisal to determine how much should be paid. The spouse who is buying out the other party will also need to hire a home inspector and a termite company to determine any underlying issues that are present, which will influence the value of the home. It's also important to research if the title is clean and if the property taxes have been paid.