What is the difference between marital and nonmarital property?
Marital property is any property acquired by either spouse since the date of the marriage, except property received by one spouse as a gift or inheritance or in exchange for that spouse’s nonmarital property. Nonmarital property is any property that a spouse already owned prior to the marriage, or acquired after the marriage by gift or inheritance or in exchange for that spouse’s nonmarital property. Property purchased during the marriage using the income of one spouse or the other is generally considered marital property, regardless of whose income was used to buy the property or whose name the property is held in. So, for example, if you purchase a car during your marriage with your own income and the car is titled solely in your name, the car is still considered marital property and is subject to division by the court. By the same token, pensions or other retirement assets are also considered marital property to the extent they are accrued during the marriage, regardless of the fact
