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What is Property division? How does it work?

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0 2023-06-01T00:55:23+00:00
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Property division is the process of dividing property rights and obligations between spouses during a divorce. It can be done by agreement or by court decision. Property includes assets and debts that were acquired before or during the marriage.

The division of property is governed by state laws and varies from state to state. Some states follow the community property law, which means that all property acquired during the marriage is considered community property and is divided equally between the spouses. Other states follow the equitable distribution law, which means that property is divided fairly but not necessarily equally.

In general, courts consider several factors when dividing property such as the length of the marriage, each spouse’s income and earning capacity, each spouse’s contribution to the marriage (including homemaking), and each spouse’s health and age.

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