Property Division

An Overview of The Three Step Process

 

                                                                                              

Step One

Identify which property is "marital".

Step Two     

Value all of the "marital" property.

Step Three  

If the distribution of the value of marital property according to its titled ownership is "inequitable", the Court can require one spouse to pay money to the other spouse.  This payment is known as a "monetary award". 

Some Basic Principles

Title Does not Control  

Property acquired during a marriage is “marital”, regardless of how it is titled.

Can Be Part Marital and Part Non-Marital 

Property can be in part marital and in part non-marital. 

Equal Division Not Automatic  

"Marital" property is not automatically divided equally.

                                                                                                

Monetary Award 

The total value of the “marital” property is a “fund” of dollar value from which a Court can make a “monetary award”, i.e., require one spouse to pay to the other spouse a sum of money which will make the situation “fair” or “equitable”, as those terms are understood by the Judge making the decision.

 

                                                                                              

 

 

 

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