Guiding You Through The Property Division And Business Valuation Process
Last updated on April 24, 2025
Over the course of a marriage, it’s inevitable for couples to accrue wealth, debt and property together that must then be divided in the event of divorce. But while it may be easy to associate a specific dollar amount with certain property, some assets, like businesses, can make property division a challenge, unless you have the right counsel to guide you through it all.
You worked hard to add to your marital assets. We make sure you get your fair share of it during contested and uncontested divorce proceedings.
Equitably Distributing Property In Divorce
In Virginia, marital property and debts are divided using the method of equitable distribution, which is designed to split marital property and debts fairly between the two spouses.
During an uncontested divorce or a mediated divorce, spouses will come to a fair agreement regarding the distribution of marital assets, which a judge then signs. In a contested divorce, however, a judge will take several things into consideration before making a final decision, including but not limited to:
- The length of the marriage
- Why the marriage ended
- If there was marital fault, including cheating
- If a spouse was abused or the victim of domestic violence
Issues Concerning Business Ownership
A well-run business can generate substantial income for a couple during the course of marriage, making it a valuable asset during divorce as well. In order to divide a business, however, spouses must go through business valuation proceedings that will account for:
- How ownership is shared
- Shares of the company or other investments
- Business real estate
- Benefit plans and retirement plans
Real Estate Division During Divorce
Real estate often represents one of the most significant assets couples must address during divorce proceedings. In Virginia, marital property, including homes and other real estate holdings, falls under equitable distribution principles. However, divorcing couples have several options beyond simply determining which spouse receives the property.
- Property sale and proceeds division: Many couples choose to sell their shared real estate and divide the proceeds. This approach provides a clean break for both parties and converts the asset into liquid funds that can be distributed according to an agreed-upon ratio. The sale eliminates ongoing financial entanglements and allows both individuals to establish new, separate residences.
- Buyout arrangements: When one spouse wishes to maintain ownership of a property, a buyout arrangement may be appropriate. This option involves the spouse keeping the property providing compensation to the other spouse for their ownership share. Buyouts typically require a professional appraisal, calculation of equity interests and refinancing to remove the departing spouse from the mortgage. This solution works well when one party has a strong emotional attachment to the property while the other prioritizes financial considerations.
- Continued co-ownership: Some divorcing couples opt to maintain joint ownership of real estate, particularly when minor children are involved. This arrangement can provide stability for children by allowing them to remain in the family home. Co-ownership agreements should clearly outline financial responsibilities, decision-making authority and future sale conditions.
Real estate holdings in other countries present unique challenges during Virginia divorces. Virginia courts lack jurisdiction over properties located outside the United States, and international properties are subject to local laws where they are situated. These complexities may involve:
- Different property rights laws: International jurisdictions may have fundamentally different approaches to property ownership and marital assets
- Title documentation challenges: Property documents may be in foreign languages or follow unfamiliar formats
- Varying approaches to marital property: Some countries do not recognize equitable distribution principles
- Currency and valuation issues: Exchange rates and market differences can complicate fair division
When international real estate is involved, working with an attorney familiar with cross-border property issues becomes essential.
A Firm With A Reputation For Results
If you’re nervous about any part of property division, the attorneys at Sevila, Saunders, Huddleston & White are here to put your mind at ease. We have decades of experience handling property division issues concerning business ownership and complex property. We know how to safeguard your interests and are always looking out for your needs, from start to finish.
Talk to any of our family law attorneys:Craig E. White, Benjamin Fitzgerald, R. Penn Bain, and Heather S. Miller.
Your Confidential Consultation Awaits
At our firm, our lawyers find the balance between equitable distribution and aggressively fighting for our clients’ needs. We believe in finding realistic resolutions that our clients are happy with.
If you’d like to talk to an attorney at our Leesburg office, call 703-468-0432 or send us an email. All initial consultations are completely confidential.