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By Elizabeth Allen

It’s a sad but real fact that many marriages end in divorce yet at the time of the marriage both happily agreed to share everything in their lives for better or for worse; no way would it end in the divorce courts.

During the period of marriage a couple acquire a lot of possessions; no consideration is given as to whom the possession belong; they are jointly owned. Or rather they are jointly owned until the marriage breaks down and now somehow they have to be divided.

The Family home is likely to be the largest thing that is jointly owned; indeed it is jointly financed as well. Now things aren’t going so well the family home can become an item that causes a lot of aggravation, heartache and stress. It’s is of course understandable as a home is the biggest and most expensive purchase most people ever make in their lives.

Understanding property rights, specifically relating to the state where the house is situated is imperative. For example, if you owned a property prior to getting married and you kept it but didn’t live in it as a couple, it remains yours in its entirety; providing your spouse did not contribute to its upkeep. Alternatively, if you have received a property as an inheritance or gift from a third party, it does not necessarily form part of the joint estate, unless bequeathed to both you and your spouse.

Taking Virginia as an example, the laws in place are clear insofar that marital property must, in the event of a divorce, be split in an equitable manner. This does not necessarily mean a split of 50 per cent each; it depends on the needs of a person, how much they contributed during the marriage and each person’s own personal financial position.

Other properties owned, but not lived in by the couple getting divorced, which are looked after or paid for jointly become part of the marital estate and will be included for the purposes of equitable distribution.

Curt have the power to determine how to separate the property. This may be by awarding a monetary amount to one party and letting the other retain the property. Alternatively the court can decide that the property has to be sold to a third party or that one of the party getting divorced purchases the property from the other half at a price applicable on the open market at the time.

A court will look at various aspects relating to who has contributed more to buy the property and what contribution each party has played in maintaining it, looking after it and cleaning it. For example, if one of the parties has been paying for the home loan, but the other has looked after the home and maintained it the court will not necessarily decide to award more of the home’s value to the person paying the loan.

The simplest and best method to divide up your property to is try to do it amicably outside of the jurisdiction of the court if at all possible.

About the Author: by Elizabeth Allen – Visit

EphraimLaw.com

for uncontested divorce in Virginia.

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Getting a home loan

by

alexus smith

If you intend to apply for housing loans, in today\’s financial markets, there are a variety of different types of housing loans, each room is equipped with its own rules and regulations. Here are the top 10 secrets you should know that if you get a home loan.

First know the different types of loans:- Increasing competition in the loan market. Today, the amount of the loan packet to fit almost any budget. Two for you to select the appropriate housing loans:- The customer needs to do is study the different benefits of housing loans, the interest rates and repayment arrangements, lending institutions. . Make sure you select the entire family to lend to you, like so much of the housing loan market today residential loans from loan companies; you think they are at the lowest interest rate, you do not apply. Asked. Apply for a loan; ensure that the loan is suitable for your needs Third, deposits As a general rule of thumb, the majority of about 3% of the borrower\’s loan provider job application to 6% of the total loan value. Please ensure that you made the right choice. With the increased competition from the day-to-day loans, you can easily negotiate and get the right package you. The Forth inflation rate percentage (APR) Rate (APR) principle, interest, fees and all other costs associated with the loan. Compare APR loans from different vendors will help you choose the most suitable for your budget loans. The Fifth compare characteristics of home loans Most only compare the interest rates of housing loan customers, it is important to compare housing loans, as well as function. Remember, the more flexible your home loan interest rate is higher. Floating-rate loans are entitled to a refund or revocation of the savings and loan offset higher interest rate compared to a standard loan. So make sure you compare home loans. Of loan eligibility Sixth (income) This may vary depending on your credit providers, and several other variables. However, as a benchmark to determine by how much you can afford, you look at your current family income in the two or three times. This will tell you how many loans. The eighty loan eligibility (cost) This is another important category, then change to another provider from a loan. However, there are several factors to consider, such as housing expenses, such as insurance, property taxes, mortgage loans and long-term debt, car loans and credit cards. Determine the amount of borrowing costs, housing costs and the sum of long-term debt. Please ensure that the cost does not exceed 33% to 36% of total household income. The next step is to consider your housing costs. Make sure that 25-28 percent of your total household income must not exceed the cost.

Visit for More information:-

Trident Home Loans Finance Broker

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