Property Division in North Dakota Divorce Cases
In North Dakota, the division of property in divorce cases is governed by the principle of “equitable distribution.” This means that the court will divide the marital property in a manner that it deems fair and just, taking into account the circumstances of both parties. This does not necessarily mean an equal division, but rather what the court considers equitable.
Homestead Assignment
According to North Dakota Century Code 14-05-25, the court, in rendering the decree of divorce, may assign the homestead, or a part thereof, to the innocent party, either absolutely or for a limited period. This assignment is based on the facts of the case and in consonance with the law relating to homesteads.
This means that it is possible for a spouse to keep the house after a divorce, but this is not guaranteed. The court will consider various factors, such as the financial situation of both parties, the needs of any children involved, and who is at fault for the divorce.
Security for Alimony and Property Division
The court may require either party to give reasonable security for providing maintenance or making any payments required under the provisions of this chapter (North Dakota Century Code 14-05-25). This could potentially include the house, especially if it is the primary residence of the spouse who is awarded alimony or child support.
Division of Property and Debts
As per North Dakota Century Code 14-05-24, when a divorce is granted, the court shall make an equitable distribution of the property and debts of the parties. The valuation date for marital property and debt is either the date mutually agreed upon between the parties or, if no agreement is reached, sixty days before the initially scheduled trial date.
If there is a substantial change in the value of an asset or debt between the date of valuation and the date of trial, the court may adjust the valuation of that asset or debt as necessary to effect an equitable distribution. This could potentially impact the division of a house in a divorce case.
Conclusion
In conclusion, whether or not you can keep the house after a divorce in North Dakota depends on several factors, including the court’s determination of what constitutes an equitable distribution of property. It is crucial to consult with a legal professional to understand your rights and potential outcomes in your specific situation.