Marital property Sentence Examples
Lawyers and/or the court and a judge determine how to divide all marital property and custody if children are involved.
All property in the New York divorce case is either separate property owned by the individual, or marital property owned by the married couple.
If one or both spouses own a business, the business may be considered marital property and be subject to division between the two former spouses.
In special equity Florida divorce cases, it's important to keep in mind that the idea of all marital property being divided equally is only a starting point for the Court.
A judge can and will look at the circumstances of each case to determine whether an equal division of marital property is equitable.Advertisement
If only one part of the burden of proof for special equity is fulfilled, then the Court will determine whether the funds or property in question is marital property.
Alaska is an equitable distribution state, with all marital property being distributed to the parties in an equitable fashion.
Get a temporary order regarding marital property and financial matters.
In the U.S., community property laws apply when it comes to dividing marital property in nine states.
In a community property state, all marital property accumulated from the date of marriage to the date of separation is designated as community property.Advertisement
If you live in a community property state, marital property can be divided in different ways and still satisfy the legal requirements that it be split equally.
Laws pertaining to community property also allow marital property to be divided equally in the form of a combination of property and cash.
Under community property laws, the date when the couple separated is an important one, since this date is used to determine the value of the marital property.
Since this date determines the value of the marital property under community property laws, it can become something that separated couples fight over.
A person who lives in a community property state can choose to waive his or her rights to this method of dividing marital property.Advertisement
A judge may order a different division of marital property if there is a large discrepancy between each person's earnings.
Under the provisions of The The Alaska Community Property Act, couples may elect to have some or all of their marital property considered community property.
If the couple does not choose to designate any or all of their marital property as community property, it remains subject to equitable distribution rules under the law.
This means marital property is divided in a fashion that is considered fair.
This is a good choice for people who are in a stable marriage and who like the fact that they each have an equal share in their marital property.Advertisement
This means all property acquired during the marriage is considered marital property and is subject to division.
In Georgia, marital property is divided in a way that is fair, but what is a fair settlement for one couple may not be that way for another.
The "norm" is that the couple's marital property is divided 50/50, but in some cases the Court may determine that a different way of dividing the assets is considered equitable.
Under Georgia law, property that a person acquired before the marriage is not considered marital property.
During the marriage, any property received as a gift or as part of an inheritance is excluded from any calculation of marital property.Advertisement
This means that it's rare that the marital property is divided on a 50/50 basis.
The exception to this rule is if the property or debt was treated like marital property during the marriage.
Verbal or physical abuse, squandering of marital property and infidelity may be considered by a court, but usually only if those behaviors or actions affected the marital estate.
If you are looking for answer to the question, "Is Mississippi a community property state?", please continue reading to find out how marital property is distributed when a marriage ends.
In Mississippi, marital property is divided according to the rules of equitable distribution.
In Mississippi, each person has the right to retain ownership to his or her property, which means that if one person has title to the property, it is not included in marital property.
Separate property is not included in marital property calculations.
In most cases, the couple works out an agreement for how their marital property will be divided.
The Court can make any determination that it considers to be fair, which may mean that one person gets nothing and the other one is awarded 100 percent of the marital property.
It is what the judge signed to officially end the marriage and distribute marital property.
Issues surrounding marital property rights can become a serious point of contention when a couple is going through a divorce.
A person who is married has no marital property rights over any assets that are considered to be separate property.
Any property acquired by the couple after they were married is marital property and is divided between them when they divorce.
If the couple is getting divorced in a community property state, the marital property is divided equally between them.
When it comes to marital property rights in parts of the country where equitable division is the method used to divide assets, the process can be more complicated.
Dividing marital property equitably means doing so in a fair manner.
If they are unable to work things out among themselves, they will have to go to court to have a judge make a decision about dividing the marital property.
Whether the decision about how to divide marital property is being made through negotiation or by a judge, the value of the marital property will need to be determined.
Once the value of the marital property has been determined, it can be divided in an equitable manner.
Marital property rights may become cloudy in a case where a co-mingling of separate property and marital property has occurred.
Determining rights of marital property can be very complicated, depending on the type and amount of assets involved.
This document effectively divides the marital property and sets out which person is responsible for paying debts incurred during the marriage.
In states where equitable division is used, the marital property is divided in a fair (but not necessarily equal) manner.
If the couple owns a home or one or both of them have investments or retirement accounts, dividing marital property can become complicated.
There may be an advantage to the divorce action being filed in a certain jurisdiction; for example a couple may not want to file in a community property state if they have agreed on a different formula for dividing their marital property.
A person who is claiming that certain assets should be considered separate property must provide proof that the assets fit the criteria necessary for them to be kept out of the pool of marital property.
When determining the value of marital property in a divorce, the replacement value is the figure that is used.
The debts the couple accumulated during the marriage are also counted when it's time to divide any marital property.
Georgia law allows the court to divide marital property as it feels is equitable.