How is Marital Property Divided under Equitable Distribution Law?
Property that must be allocated upon divorce is usually property that was acquired during the marriage — in other words, marital property. In most cases, property acquired before the marriage, personal injury awards to one spouse, property acquired after the divorce and gifts or inheritances received by one spouse during the marriage are not considered marital property. Once the court decides which property is marital property, it must determine the value of the property. Then, it allocates the property between spouses. If you and your spouse are able to agree upon the allocation of property and other important matters, you will have a far greater influence over the ultimate resolution of your situation. Certain kinds of property continue to create controversy during divorce. Divorcing couples should be aware of the issues these assets present. Family Home. The primary residential property owned by the divorcing couple is often their largest asset. Dealing with its division can be com
