Divorce is often one of the most difficult family law matters a person can face. Beyond decisions about child custody, child support, and spousal support, one of the most challenging legal issues is determining what happens to the house. For many families in Greenville, SC, the marital house is not just a property, it is a joint asset with financial, emotional, and practical importance for both parties and their children.
When a house is considered marital property under South Carolina divorce law, refinancing the mortgage may become necessary. One spouse may wish to keep the family home in their own name, while the other spouse seeks their fair share of the property’s value. A Greenville divorce attorney with a deep understanding of family law can provide the legal guidance needed to navigate this process and protect your future.
Marital Property and Equitable Distribution
South Carolina family court follows the principle of equitable distribution in divorce cases. This means that marital assets, including the marital house, must be divided fairly—though not always equally—between the spouses. Factors such as the length of the marriage, each spouse’s income, and contributions to the property determine how marital property division is handled.
Marital property typically includes the family home, retirement accounts, and other assets acquired during the marriage. Property that qualifies as separate property, such as assets acquired before the marriage or through inheritance, may not be divided. Determining whether a house is marital property or non marital property is an important step in the divorce process, as it guides how the mortgage and equity are divided.
Refinancing the Marital House
When one party wishes to keep the marital house, refinancing the mortgage into their own name may be required. This ensures that the other spouse is removed from financial liability and that the property division reflects a fair resolution. The entire process often involves:
- Determining the fair value of the house and equity
- Deciding whether one spouse can afford the mortgage payments alone
- Negotiating an agreement regarding the buyout of the other spouse’s share
- Considering other assets and debts as part of the equitable division
In some cases, the court may order the sale of the house if neither party can afford to refinance or buy out the other spouse.
Legal Matters Beyond the House
Mortgage refinancing is just one part of the broader property division process. Family law attorneys also address how retirement accounts, personal property, and other assets are divided. If a qualified domestic relations order is needed to divide retirement accounts, the court ensures compliance with South Carolina divorce law.
In addition, family law attorneys help parties resolve legal issues involving child custody, child support, and spousal support. These important decisions can affect whether one spouse is able to keep the house and how financial obligations are structured. Mediation may provide a constructive way to reach an agreement without prolonged litigation.
Protecting Your Family and Future
The outcome of divorce proceedings has a lasting impact on both spouses, children, and loved ones. Keeping the family home may provide stability for children, while selling the house may offer both parties a fresh start. Every divorce case is unique, and individual circumstances must be carefully weighed to determine the best outcome.
At Sarah Henry Law, our Greenville family law attorneys work closely with clients to protect their interests, advocate for their rights, and guide them through the process of mortgage refinancing, property division, and other family law matters. Our goal is to help clients make informed decisions, protect their family’s future, and move forward with confidence.
Take the Next Step with Sarah Henry Law
Learn more about Greenville Mortgage Refinance Divorce Lawyer. Call Sarah Henry Law at (864) 478-8324 to schedule your free, no-obligation consultation. You can also reach us anytime through our contact page. Let us help you take the first step toward resolution and peace of mind.
Greenville Mortgage Refinance Divorce FAQs
What happens to the mortgage during a divorce in South Carolina?
If the marital house is considered marital property, the mortgage must be addressed in the divorce. Options include refinancing into one spouse’s own name, selling the house, or negotiating an agreement regarding the equity.
Can one spouse keep the family home after divorce?
Yes. If one spouse can afford the mortgage payments and qualifies to refinance, they may keep the family home. The other spouse typically receives their share of the equity or other assets.
What if neither spouse can afford the mortgage after divorce?
In such cases, the court may order the sale of the house and equitable division of the proceeds. This ensures both parties receive a fair outcome.
How does refinancing protect the other spouse?
Refinancing removes the other spouse’s name from the mortgage, protecting them from liability for future payments, debts, or defaults.
Do I need a divorce lawyer for mortgage refinancing issues?
Yes. A Greenville divorce lawyer provides legal guidance on marital property division, protects your legal rights, and ensures the property is divided fairly under South Carolina divorce law.
