Virginia recognizes a rebuttable presumption that all property acquired during the marriage is a part of the marital estate and each party has some interest in that property, or the monetary value of it. Examples of assets that can be part of the marital estate include real estate, stocks and bonds, bank accounts, IRAs, automobiles, partnership interests, live stock, pets, furniture and jewelry. When the parties cannot agree between themselves as to the division of marital property, the courts are empowered to do so after considering the several factors specified in the statute on equitable distribution of marital estates. Excluded from that presumption is separate property; that is, property acquired by one party prior to the marriage that has been maintained as his or her separate property and not been commingled with other marital assets, or otherwise converted to marital property. Under certain conditions, even property acquired by one of the spouses after the marriage can be classified as that party’s separate property. In most marriages, the primary marital asset is the house in which the family resides, and most often, it is titled in the names of both the husband and the wife. As joint owners, each has the right to reside in the house. However, the court may, upon the petition of one or both of the parties, award occupancy to one or the other during the pendency of the divorce proceedings. After the marriage is dissolved by final decree of the court, it is usual for the parties to sell the house and divide the net proceeds.

Frequently Asked Questions

 


Q: Who Gets the House?

A: Virginia recognizes a rebuttable presumption that all property acquired during the marriage is a part of the marital estate and each party has some interest in that property, or the monetary value of it. Examples of assets that can be part of the marital estate include real estate, stocks and bonds, bank accounts, IRAs, automobiles, partnership interests, live stock, pets, furniture and jewelry. When the parties cannot agree between themselves as to the division of marital property, the courts are empowered to do so after considering the several factors specified in the statute on equitable distribution of marital estates.

Excluded from that presumption is separate property; that is, property acquired by one party prior to the marriage that has been maintained as his or her separate property and not been commingled with other marital assets, or otherwise converted to marital property. Under certain conditions, even property acquired by one of the spouses after the marriage can be classified as that party’s separate property.


In most marriages, the primary marital asset is the house in which the family resides, and most often, it is titled in the names of both the husband and the wife. As joint owners, each has the right to reside in the house. However, the court may, upon the petition of one or both of the parties, award occupancy to one or the other during the pendency of the divorce proceedings. After the marriage is dissolved by final decree of the court, it is usual for the parties to sell the house and divide the net proceeds.


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