During a divorce, all property acquired during the marriage becomes liable to division.
After the court has established that the marriage has irretrievably broken down, the court goes on to hear the ancillary matters. At this stage, the court will first determine the pool of assets of the marriage. Your divorce lawyer can advise you on which assets acquired during and before the marriage may form part of these pool of assets.
Having constituted the pool of marital assets, the court will then go on to determine the just and equitable proportion to divide such property in. Once this has been decided, the court will then get to the task of determining how to practically divide the assets so as to constitute the proportion of the total pool that is to be kept by each spouse. At this stage, the court will have regard to practical considerations such as the need for the spouse caring for the children to have a stable roof over their heads. A family lawyer will be able to assist you further on these considerations that you might need to plead before the court.
Thus, depending on how the court exercises its powers of division, you may be able to continue living in your home. In the alternative, the court may also offer one spouse the opportunity to buy over the share of the matrimonial home, which they do not own, from the other spouse. The Singapore divorce lawyers from Gloria James-Civetta & Co will be able to further advise you as to the possibilities of such an outcome in the specific circumstances of your case.
Should you have any questions or need legal representation, kindly contact Gloria James-Civetta & Co
