Division of Property in Divorce
Property division is a key part of any divorce and involves deciding who gets which marital property.
Marital Property in Divorce
Marital property is property acquired or obtained during the marriage as opposed to separate property that the spouse had prior to the marriage.
Equitable Division of Property
In New York this division is done according to what is known as an 'Equitable Share', but this does not necessarily mean fifty fifty (50/50) share. Equitable share means what the court thinks is fair and equitable in each individual circumstance. Either the court can decide or the parties can decide during the divorce negotiation process.
Types of Marital Property Include:
- Real estate
- Bank accounts
- Investment property
- Shares and Securities
- Vehicles
- Furniture
- Pensions
- Debt
- Education and Qualifications
For an initial free consultation with an attorney from the The Law Office of Leah T. Wills Pllc call 1 888-524-9776.