What Happens To My Vacation Home If I Get Divorced In Oregon?

What Happens To My Vacation Home If I Get Divorced In Oregon?

When a married couple gets divorced, the vacation home becomes a part of the list of assets for property distribution between the spouses. Under Oregon law, the court categorizes divorcing spouses' property as separate property or marital property. In property distribution, separate property remains with the spouse who owns it. Marital property is equitably distributed between the spouses.

Separate property is property that spouses acquire before marriage, as a gift to one spouse, through inheritance, or by a deceased's person will. If the law determines that the vacation home is separate property, the homeowner retains ownership of the vacation home. A vacation home a spouse purchases during the marriage may also be considered separate property if the spouses were separated and living in separate residences at the time of the purchase. The spouses must have had no intention of reconciling when the vacation home was purchased. Marital property is property acquired during the marriage, whether in one or both spouses' names. Property categorized as marital property is split between spouses through equitable distribution. This distribution is not necessarily an equal split. Equitable distribution is based distribution of property to spouses based on what is fair. If a vacation home is marital property, one spouse may get the house, or the court may order the home's sale to split the proceeds between both spouses.

Other Divorce Frequently Asked Questions