Buying a home to share and raise children in is a major aspect of many people's marriages. It is not uncommon for a couple to spend months or even years searching for the right house to call home. Still, buying a home can sometimes feel easier than deciding what to do with it during a divorce. Many people dread dealing with the marital home during property division, but it does not have to be this way.
Divorce can be devastating - not just emotionally but also financially and in other ways. It can feel like your whole life is ending. You might lose friends, you might face significant changes in your career or housing situation, and you might grieve the loss of what you thought would be your last relationship. On top of all that, you'll certainly be dealing with some big financial changes, including how much you have available and an increase in your expenses.
Arizona is a community property state, which means that all marital property is divided equally between the spouses in the event of a divorce. However, it is important to remember that not all the assets that were acquired by an individual during the course of the marriage are considered community property. Article 25 Section 213 of Title 25 of Arizona Revised Statutes clearly states what separate property is.