Divorce online - Divorce forms - Do it yourself divorce - Divorce papers - Divorce form - No-fault divorce - Uncontested
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To better understand the issues relating to your legal situation or problem, our legal information and other law related facts may be of interest to you
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Family Law - Property Division.
When people divorce, they are faced with the sometimes-difficult task of dividing up their Property. Most couples, with the help of their attorneys, decide on their own who should get what. This is recorded in a written agreement and presented to a judge. If the agreement looks fair, the judge approves it in a short hearing and the settlement is final. Very few divorces actually go to trial for the court to decide on a settlement. When this does happen, though, the following issues come into play.
In the context of divorce, there are two types of Property: marital (or community) Property and separate Property.
Most states use "equitable distribution" to divide the marital Property. That is, a court divides the Property in a way that it deems fair (not necessarily 50-50). Other states, such as California, divide the Property equally between the spouses unless the spouses had a Premarital agreement.
In contrast, a spouse is often allowed to keep his or her separate Property. For example, if a woman owned land before she got married and inherited a ring during the Marriage, she may be allowed to keep both items without her husband receiving something of equal value.
Sometimes, a divorcing couple has more debts than assets. In this case, the debt obligations are distributed using the above methods.
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