Division of Property in a Divorce

Division of Property in a Divorce

Though this does not require the court to divide the parties’ marital property 50/50, in practice many courts will do so. Marital misconduct such as domestic abuse or adultery can’t be considered by the court in dividing property.

Marital vs Non-marital Home

Marital property is property and personal property, such as vested pension plan benefits, acquired by either spouse during the marriage.

Each party may keep their own “nonmarital” property. Since non-marital property includes property acquired prior to the marriage, getting married doesn’t give your partner a claim to your previously-owned property, which is a frequent misconception.

In determining whether a gift was made to a partner but not the other, the most significant element is the donor’s intent. A good example of this is when an inheritance by one spouse is deposited to the parties’ frequently used joint checking accounts.

Other Division of Real Estate Considerations

There are some other things to notice. One, as well as dividing land, the court can order that the parties’ marital property be marketed in the event the court finds it is necessary to keep the parties’ assets. By way of instance, when neither party is able to pay the expense of the parties’ house on their own, the court can order the house to be sold. Two, if the court finds a spouse’s assets or part of marital property are so inadequate as to perform an unfair hardship, the court can split up to one-half of nonmarital property to protect against the unfair hardship.

Three, the parties can’t dispose of marital assets in contemplation of or through a divorce proceeding except in the regular course of business or for necessities. A party intending to file for divorce may open a single bank accounts with marital funds or eliminate marital property in the home before filing for divorce. Such activities can be taken into account by the court when dividing property. Last, the appreciation in value of nonmarital property is thought of as marital property (離婚財產分配) if it had been the result of marital funds or attempts. A good example could be a lakehome possessed by a party before the marriage that’s subsequently remodeled with all the parties’ joint funds or labour. The rise in value to the property as a result of the joint activities is thought of as marital property.