In many divorces, one of the most highly-charged issues can be the division of property. Under Illinois law, all the marital property must be divided equitably in a divorce. This includes the equity in the marital home.

One of the first steps a couple who is divorcing may take in dividing assets will be to determine the future of the marital home. Typically, a couple will need to decide who will retain the house. If one of the spouses would like to keep the house, he or she can buy out the other spouse. If this is a point of contention, a couple may decide to sell the home and split the value.

In the past several months, an issue that has been troubling in these types of settlements is determining the value of a house. Since so many houses have declined in value recently, a couple who is in the process of getting divorced may face issues with foreclosure or division of liabilities. There may even be a disagreement about what a property is worth.

However, if the value of a marital property is generally agreed upon, the division of the property can take place. There are a number of ways to split assets. In the ongoing divorce of NBA star Kobe Bryant and his wife Vanessa, the couple recently transferred properties to each other as a solution.

Sources say that Bryant transferred his interest in two of their homes to his wife. The first property is the home they shared prior to the divorce, as well as a property nearby where his mother-in-law lives. Both properties are now in Vanessa's name alone.

In return, his wife transferred an estate that is under construction to Bryant. The values of the homes were not specified, but it is believed that the properties have a combined value of several million dollars.

This would certainly appear to be an example of an amicable decision. The transferring of properties between the spouses can be a relatively simple solution to dividing the assets.

Source: TMZ, "Kobe Bryant and Vanessa: Horse Trade Houses in Divorce," Jan. 15, 2012