Family Homes and Vacation Properties
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Law Offices of Benita Ventresca408-395-8822
20 S. Santa Cruz Ave., Suite 212, Los Gatos, CA 95030
Offering Limited Scope Service
Mediation and Litigation

Los Gatos Attorney for Dividing Marital Real Estate

Family Homes and Vacation Property Lawyer Serving San Jose, CA

los gatos property division attorneys

Real estate is often among the most valuable assets a couple owns. Deciding what will happen to the family home and any vacation properties can be among the most emotionally difficult and technically complicated parts of a high net worth divorce. Fortunately, the Law Offices of Benita Ventresca has over 35 years of experience handling the division of family homes and vacation properties in California.

Community Property vs. Separate Property

The first step when dividing property in a divorce is deciding what is marital property, subject to community property laws, and separate property. The presumption is that all property acquired after the marriage is marital property also known as community property.

Oftentimes, real estate will be titled in the name of only one spouse. When this happens with the family home or a vacation property, the presumption changes to being that the real estate is separate property. This means that the spouse's name on the title of the property does not have divide the value of that property. The presumption can be fought, but it may be difficult to show that the couple actually intended the real estate to be community property, even though both names were not on the title.

In some cases, dividing real estate may be even more complicated. The house or vacation property may be community property, but a large portion of the house may have been bought with separate funds. Or the reverse could also be true. The real estate could be separate property, but community property funds were used for part of the purchase. In these situations, the exact value of the community property will need to be calculated.

What Happens to the House?

The family home may be the most valuable asset a couple owns. Deciding what should happen to the property can cause significant tensions in a divorce. The spouse that is awarded the house will still have to make sure the other spouse is compensated for half the value of the home.

If there is enough equity, the house could be refinanced to give the spouse without the home their share of the value. However, this is not always possible. The house could also be sold, and the couple would then split the proceeds outright. Unfortunately, selling the home can cause major instability for any children involved in the divorce if they are forced to move.

Another option is a deferred sale. The divorcing couple continues to own the house jointly, but only one spouse enjoys the use of the house. This works well to minimize the impact of the divorce on children, but can be financially difficult for one or both spouses.

Contact an Experienced Los Gatos Divorce Attorney

If you are considering filing for divorce or your spouse has already begun the process, contact us at 408-395-8822 today to schedule a consultation. We will make sure you get your fair share of the value of the family home and any vacation properties. The Law Offices of Benita Ventresca is located in Los Gatos, and we serve clients throughout Santa Clara County.

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Law Offices of Benita Ventresca

20 S. Santa Cruz Ave., Suite 212
Los Gatos, CA 95030

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Call us for a free initial consultation

408-395-8822
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Conveniently located in downtown los gatos and
close to highway 280, 85 & 880

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