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Property division is often a problematic issue of a divorce process. Along with child custody and alimony, this part of divorce determines important terms which influence a whole further life of the former spouses.
The emotional side of the distribution of the property raises issues like confidence in the future, desire to defend personal interests, the clash of different points of view on what justice is, and so on. Sometimes, even the couples which initially had an intention to dissolve the marriage peacefully found themselves greedy and mercantile. Each spouse just was sure that the division was going to occur his or her way, so then, they both were unpleasantly surprised with the partner’s opposite point of view.
This issue should not be delayed too long, find the courage to talk about this and find a solution at the moment you just decided to get divorced. In general, you should bring up this subject sooner rather than later, for example, when you acquire the common property, or even before the marriage – meaning, you’d better settle all the material matters in advance creating a prenup.
As for practical matters, property division in a divorce is also quite complicated since it assumes a lot of specific regulations depending on the state law and the peculiarities of a certain divorce case as well.
Generally, all the US states can be defined as community property states and equitable distribution states.
Briefly, community property states are the states where the couple is considered as a community, so all the marital property is deemed to be owned by both spouses equally. This means that both parties have equal rights to the property bought/gained during the official marriage, and it does not matter who made a more significant c… Read More
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