What Happens to Summer Homes in a Divorce?

 Posted on November 28,2024 in Asset Division

Some married couples decide to invest in a summer home, such as a lakehouse, cabin, or beach house that can serve as a favorite vacation destination. These properties often provide an experience that cannot be replicated at a hotel or resort, allowing you some peace and quiet and creating some irreplaceable memories for your family.

However, serious questions can be raised about ownership of a summer home in cases of high asset divorce, especially if both spouses want to keep it. The Kane County, IL family law attorneys at Weiler & Associates, Inc. have experience resolving divorce issues, and we are prepared to help you navigate the division of your summer home.

The Difference Between Marital and Non-Marital Assets

When assets are split up in a divorce in Illinois, the court has to make a judgment about what is and is not marital property–that is to say, what belongs to you exclusively and what is jointly owned by you and your spouse. Under state law, anything that you acquired before the marriage is generally considered your own non-marital property, along with inheritances and gifts you have received.

Non-marital property is not divided between you and your spouse. So a summer home that was passed down on your side of the family for generations or that you bought before the marriage is less likely to be considered marital property by a judge.

Note that non-marital assets can be "commingled" when separate assets mix with marital assets. This raises complicated questions of ownership about a summer home when both spouses have put money towards it. For example, if one spouse bought the home before the couple was married, but the other spouse spent time and money renovating it, this might be considered a commingled asset.

Who Gets the Summer Home?

Every divorce is unique, so there is no one answer as to the final ownership of a summer home. The court will weigh various factors, including, but not limited to:

• Whether the home was bought before or during the marriage

• Whether one party has a significant sentimental attachment to the home

• How much both spouses invested in the home

• Whether the summer home is addressed in a prenuptial or postnuptial agreement

If you want to keep the home, you may have to buy out your spouse’s interest in the house depending on how much he or she spent on it. Illinois adheres to the rule of equitable distribution in a divorce, which does not always entail an equal split down the middle. If you claim ownership of a summer home, keep in mind that you may be forfeiting a greater share of other assets. Other options include selling the summer home and dividing up the profits with your spouse, or maintaining joint ownership of the property without infringing on each other’s time.

Speak with a St. Charles, IL Family Law Attorney Today

A summer home can be a great source of comfort, giving you something to look forward to in trying times. The Kane County, IL divorce lawyers at Weiler & Associates, Inc. are highly experienced in representing clients in and out of court, and we will help you reach a resolution about the ownership of any marital property, from a cabana on the beach to a cabin in the woods. To schedule a consultation, call us at 630-331-9110 today.