Does Marriage Create Certain Property Rights?
The rights to property depend on whether the property is “marital property” or “separate property.” “Marital property” consists of all jointly-titled property as well as all other property, other than separate property, acquired by either or both of the parties from the date of the marriage through the time of the final separation. “Separate property” is property owned by one party prior to the marriage, property acquired after the parties have separated, inherited property and/or gifts to one party from a third person. Where “marital property” and “separate property” are mixed together or where the value of “separate property” is increased through the active efforts of either party during the marriage, then such property may be classified as “marital property” or as “part marital and part separate” property. Virginia law provides for the “equitable” distribution of the marital property between the parties at the conclusion of the divorce. The Court may order monetary awards to one of
Related Questions
- Are there certain legal requirements which must be complied with in order to create a legal and valid Continuing Power of Attorney for Property and Power of Attorney for Personal Care?
- What are my rights to money and property when my marriage ends? What happens to investments and similar assets?
- What are my rights to money and property if my marriage ends?
