The Law Dictionary for Everyone
Non-marital property is any real or personal property that was owned by either spouse before the marriage. During a divorce, non-marital property is often referred to as “separate property,” and is not subject to distribution between the spouses, but remains the sole property of the spouse who owned it prior to the marriage. There are other instances in which property […]
Read moreAny property that is acquired during the period a couple is married is considered marital property, belonging to both spouses equally, regardless of which spouse paid for it, or how it is titled. This may include such things as houses, furniture, appliances, and other types of personal or real property. Financial assets and debts acquired during the period of the […]
Read moreCommunity property is a family law term used to refer to all of the personal and real property that a couple acquires during their marriage, which legally belongs to both spouses. If the couple divorces, the community property must be divided and distributed to the parties. The goal in most cases is to achieve an equitable division of the community […]
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