Can the Rhode Island Family Court defer a sale of the marital home for the child/children in a divorce case?

If one of the parties requests a deferred sale of the home in a Rhode Island( RI) divorce, then the court must determine whether or not it is economically feasible for the person who is living in the home to pay the mortgage, liens, taxes and insurance on the home until the home is sold. In making that determination the court will look at the income of the resident parent, any alimony the parent receives, child support and other source of income to make those payments. The intent of this law is to prevent foreclosures, uninsured property, and deterioration of the marital home as a result of a divorce and to protect the parents’ equity in the house. R.I.G.L. 15-5-16

After the  divorce court determines that it is “economically feasible” for the parent to remain in the house with the minor child, the court will consider whether it is in the best interests of the minor child or children to live in the house. The court will use its discretion in making this determination.

In most cases where there are children and the custodial parent can afford the marital home, the court will exercise its discretion and allow the children to remain in the house for a period of time, which may be until the youngest turns 18 years old and graduates from high school.

In the event that the court defers the sale of the house in a divorce, the  Rhode Island Family Court will usually determine the equity in the house. The court will determine the equitable share of the person leaving the marital domicile. In many cases, if the parties cannot agree to the fair market value of the real estate then the parties will need to hire real estate appraisers. The court will hear testimony from the appraisers and determine the fair market value of the home. In some cases the parties agree to use the same real estate appraiser. Please note that in the vast majority of cases, these matters are settled out of court prior to any trial or hearing.

After the period of deferment the house must be sold and the parent who is out of the house will be paid his or her equitable share at that time. The court will usually order a mortgage to protect the person who is owed money for their equitable share. The court may also award interest on the mortgage. If the court orders a deferred sale of the house, it can be modified or terminated at the discretion of the court. If the party living in the house with the children remarries or there is a substantial change of circumstances in the economic status of the person living in the house, then the property may be ordered sold.

In many cases when the custodial parent can afford an increased mortgage payment, the parties will settle with the custodial parent refinancing and buying out the noncustodial parents equitable share of the equity in the house. At that refinance, the non custodial parent receives cash and typically deeds over his/her interest in the house to the custodial parent.

So a divorce has become inevitable. How do you tip the scale of justice in your favour right from the start knowing there is a general bias in favour of women in the divorce courts?

Below are 3 steps that you can put into action right away that will help you protect your money. Later on in the article I will reveal a resource that could make a difference to you out manoeuvring your soon to be ex wife in the divorce courts and keeping all your prized possessions or you losing everything you have ever worked for to her.

1. Stop making any more contributions to your pension funds. This is because your soon to be ex-wife may be entitled to half of what you have already paid in.
You cannot do anything about any amounts you may have already paid in but you certainly do not want to keep increasing her share of your money.

If you are an employee, then speak to your HR department and let them know you would like to stop making any further contributions to your pension plan for now.

It is important that you let them know that you are not withdrawing from the scheme. Let them know you are going through a divorce and that as soon as your divorce is finalised you will resume your contributions.
If you are self employed, then make sure you speak to your financial adviser as soon as possible.

2. Open a separate bank account with a different bank: If you have always operated a joint account with your partner, now is the time to go your separate ways. You need to open you own separate bank account.

It is even better if you open your own account with a totally different bank from the one you jointly used.  This way, she not only has no idea which bank you currently use, after a while she will be unable to guess how much you have in your account.

3. Do not go into a new relationship until your divorce has been finalised: It is important that you try as much as possible not to get into a new relationship.

If you meet someone you like or are interested in, then explain the situation to them. Any woman who really likes you will understand and hang around until your divorce is finalised.

Getting into a new relationship before an old one is finalised would only complicate matters, especially if your soon to be ex wife gets to know about it.

She could on the basis to that decide to make the divorce more contentious, lengthy and of course more expensive.