If you are thinking about filing for divorce in Oakbrook Terrace, or if you know that your spouse has plans to file for divorce, you are probably already thinking about the complications of property division. While the distribution of marital property will vary in complexity from case to case depending upon the amount and type of assets and debts involved, the Illinois Marriage and Dissolution of Marriage Act (IMDMA) requires that Illinois courts divide all marital property according to the theory of equitable distribution.
Although the court will determine who marital property is divided until the parties can negotiate a property division agreement or property settlement, it may still be possible for one of the parties to make clear that she or he wants to retain particular property for which she or he is willing to give up other property. In a lot of cases, one of the parties wants to keep the marital home.
Why Would One of the Parties Want to Stay in the Marital Home After a Divorce?
There are a variety of reasons that someone may want to stay in the home after the divorce, from a sentimental attachment to the property to issues like raising your child and wanting to keep kids in the same school district....