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Protecting What Matters Most

How to split up three high-valued assets during a divorce

| Apr 12, 2021 | Blog, Property Division

If you’re getting divorced in Rhode Island, this can be an understandably difficult time as you negotiate how to divide property. Here’s how a few common assets get split during a typical divorce process.

Properties

During a divorce, property division can be a major issue for all parties involved. If neither you nor your ex-spouse has any connection to shared real estate property, it’s typically sold. After it sells, you and your spouse can split the costs. On the other hand, one party might have an attachment to this property and want to keep it. If this is the case, the interested party can buy the property by paying out the ex-spouse.

Vehicles

When you and your ex-spouse are splitting up assets, vehicles often come into play. If two parties in a divorce want ownership of a shared vehicle, they will have to compromise: They can either sell the vehicle and divide the profits between each other, or one party can keep the car and pay their ex-spouse half of its total value.

Household items

Married couples typically acquire many items during their marriage. If this marriage ends, it can lead to disputes about who gets to receive the furniture and other household items. To solve this problem, it’s often wise to discuss what you and your ex-spouse want the most. If these discussions go well, you and your ex could walk away with items of equal value.

When two people get divorced, there are various items that need to get split up. If you need someone to help you keep what’s rightfully yours during a divorce, it might be wise to contact an attorney.