After working extremely hard for decades, a Chicago couple decides to purchase a lake house in Lake Geneva, Wisconsin. They have been feeling the stress of their real estate company more and it is taking a toll on their health and their marriage. They loved that Lake Geneva is close to the Chicago area and provides tons of natural beauty and wide open spaces. They were able to purchase a gorgeous lake house.
While they both enjoy their lake house, they cannot say the same for their marriage. They have grown even farther apart and have decided it is time to pull the plug on their marriage. However, both spouses love their custom-built lake house in Lake Geneva and plan to fight aggressively to keep it. What happens to second homes and lake houses in an Illinois divorce?
Who Stays in a Second Home During an Illinois Divorce?
Most couples that decide to divorce separate and live in different homes before they file the divorce petition. When a couple owns two homes, one party might remain in the main home and one party might move into the vacation home. Either spouse has a right to petition the court to use a particular home during the divorce proceedings, but they will need to show good cause.
Under Illinois law, judges have the right to give one spouse exclusive possession of the marital residence. They can even evict one spouse from a marital residence. For example, if the husband would like to move into the vacation home, but the wife has set up her household there, he would need to show the judge that his mental or physical well-being has been jeopardized by not allowing him to stay in the vacation home. The same would be true if the wife would prefer to live in the family home in Chicago with her children instead of the vacation home during the divorce.
It is important that you work with an experienced lawyer who can effectively petition the court to give you a temporary residence in the lake home if you would prefer to keep it after the divorce. The residence of the children and which parent’s job is closest to which house will also be factors in determining how to divide the properties.
Division of a Second Home in an Illinois Divorce
Illinois judges have a significant amount of discretion in determining how to divide marital assets. As long as the homes were purchased during the marriage, they will be considered marital property and subject to division during the divorce. If the spouses cannot agree on who should keep the vacation home, the judge will consider multiple factors to decide how to divide the property. These factors include the duration of the marriage, the value of the vacation home, other assets, and debts of both spouses. If you would like to keep your vacation home, one of the most important things you can do is discuss your case with an experienced lawyer.
Discuss Your Divorce with an Experienced Divorce Lawyer
If you need representation for a divorce or child support matter in Cook County, Glasgow & Olsson is here to help. When you need an attorney, experience matters. Contact us today to learn how our experience can get you the results you deserve.