If husband and wife own real estate in Rhode Island and are getting divorced and have no minor children then there are many possible dispositions concerning the marital domicile.

<b>The parties agree to sell the property </b>

There may be negotiations during the Rhode Island (RI) Divorce by the RI divorce lawyers concerning one spouse buying out their husband or wife’s share in the property. The parties can agree to a single appraisal or hire their own appraisors. Some parties simply agree to the fair market value and do not need an appraisal. If husband and wife’s appraisals are different then they can negotiate the fair market value of the property. After determining the fair market value of the property, the parties should look at all mortgages owed and determine the equity of the property. The equity in the property is the difference between the fair market value and all liens and mortgages. This article only pertains to divorce and family law in Rhode Island (RI).

The equity in the property will determine what amount the person who is refinancing should pay the other party to buy out their equitable share. At the refinance closing, husband or wife may deed the property by quitclaim deed. Upon transfer of the deed, the spouse will receive their agreed upon share of the marital equity.

If the parties cannot reach an agreement and there are no children, the property will probably be ordered to be sold at the Rhode Island divorce trial.

In some cases, one spouse may agree to take less then half of the equity in the property. This could be done for numerous reasons including: disparity in earning capacity, admissions of an affair or infidelity, offsets from other assets etc.
 
Parties may also agree to a multitude of different scenarios which might include one party living in the marital domicile and refinancing in the future to buy out the other party’s share. This usually involves the party who remains in the house granting a mortgage to the other spouse.

There is really no limit to the types of agreements that parties can reach and it is possible that the parties could trade off assets in which one spouse receives a different asset such as a retirement account in exchange for the other party obtaining title to the real estate. Be careful becuase there may be federal tax implications to such tradeoffs!

This can get tricky because a transfer of the property without a current refinance will not take the person who deeded the property name off of the mortgage and promissory note.The person who deeded the property without refinance must make sure that the other party actually pays the mortgage, taxes and insurance on a timely basis otherwise their credit could be effected.

You should seek legal counsel from a Rhode Island (RI) divorce and family law Lawyer / Attorney concerning all of the possible scenarios.

Division of the marital domicile when parties have minor children.

If both parties agree that one spouse should reside in the marital domicile with the minor child / children they can agree to a deferred sale of the property. The person who is not living in the house with the children often receives a mortgage to secure the rights to receive money in the future. 

If the parties cannot resolve this issue the court will determine whether or not it is in the best interest of the minor children to defer the sale of the marital domicile. The court must look at whether or not the parent who is residing in the marital domicile can afford the mortgage, taxes, insurance and upkeep taking into account any child support, alimony or income that the person receives. The RI family Court must also determine how long the sale of the house should be deferred in the best interest of the children.

If the parties cannot determine issues of child custody, visitation and physical placement then the issues become a lot more confusing.

Rhode Island (RI) Legal Notice per Rules of Professional Responsibility:

The Rhode Island Supreme Court licenses all lawyers and attorneys in the general practice of law, but does not license or certify any lawyer/ attorney as an expert or specialist in any field of practice.

Marriage is a sacred thing. You must commit to your partner only if you are very sure that you have found the right person you can spend your lifetime with. But that is only the ideal setting. As the relationship last and as you get to know each other better, both the positive and negative sides, you have two ways to go. You either go on with the flow, singing a happy tune all along. Or you look for tips to save a marriage to try a quick fix with your problems because if nothing is going to be done, you might end up separate ways.

If you are serious about finding tips to save a marriage, you are on the right track. You are having a rough time, but you won’t easily give up. You are still willing to try what others would say about the matter and apply it on your relationship. And that is a very good thing. You have to try to work things out before you start calling your lawyers to start the divorce proceedings. Some people would hastily get out of the relationship for simple reasons that can still be fixed. Think about what you have gone through together. If you have kids, think about them and how they would feel if ever the separation will push through.

Here are some more tips to save a marriage that you can include on your agenda to finding peace amidst the hurdles that your relationship may be faced with.

1. Keep your promises. Whether you are the husband or wife, if you have said something that you know is very important to your partner, keep it. Regardless of how petty or small the promise seems to be, you must make sure that you abide by what you said. This way, you won’t easily lose the trust that your partner has on you. Trust is everything when it comes to relationship. And this is one base that you can enhance such factor, by keeping your promises and staying true to your words.

2. Avoid getting jealous and judgmental. When jealousy strikes you, you will be enveloped by a negative feeling and thoughts that may lead for you to become judgmental. This is something that must be avoided as much as possible when you are in a relationship, especially in marriage. If you can’t help but be jealous, do not try to analyze things that you don’t understand by yourself. You might only create impressions based on what you have seen. Instead, try to talk it out, but make sure that you keep an open mind while doing so.

3. Talk things out before you start lashing into one another. You have to talk matters with your partner in a very diplomatic way at all times. Your conflict won’t be resolved if you will say hurtful words to one another.

4. It is better to be quiet if you are angry to make sure that you don’t say too much hurtful words that you might later regret saying.

5. Do not ever resort to any types of abuse.