Usher Selling Georgia Mansion As Per Divorce Agreement
Posted on Nov 26, 2012 12:00am PST
Who gets the house? This is one of the first questions many divorcing spouses
have when contemplating a divorce agreement. In Georgia, property division
in a divorce may be determined by the couple through an agreement or decided
through a court order if the couple is unable to reach an agreement.
If a court must decide, the split of marital property is determined on
an equitable division standard. Recently, singer Usher decided to sell
his Georgia mansion, which has been inhabited by his ex-wife by the parties'
agreement since their divorce in 2009.
The home was purchased during the couple's marriage in 2007. According
to the couple's divorce agreement, Usher is able to sell the mansion
with a 60-day vacate notice to his ex-wife. According to reports, Usher
owns another Georgia-area home, which he purchased in the late 90s.
In Georgia, only assets accumulated during the marriage are subject to
property division in the divorce process. Marital property includes wages
earned and assets bought during the marriage. Nonmarital property includes
gifts, inheritances and property that each spouse brought into the marriage.
In some cases, nonmarital property may be transformed into marital property
if it is commingled with marital assets.
If the parties cannot come to an agreement about the division of their
property, the court will make a decision as to how to divide it. In determining
which spouse gets a home, courts often determine the award based on which
parent has primary custody of children. The other spouse may receive a
larger award of other marital assets in order to make it a more equitable
division. If the couple does not have children, the court may consider
other options for dividing the property, such as selling the home and
distributing the proceeds.
Reaching an agreement on property division can be difficult. However, it
is typically in the best interests of everyone involved that the parties
come to an agreement. It can make the process smoother and easier.