How is real and personal property divided in divorce?
As is the case with most marriages, you and your soon-to-be ex-husband or wife probably combined and contributed to your assets during the course of your union. As a result, you may now be having a difficult time distinguishing between your marital and non-marital property. Understanding when and how real and personal property is divided in divorce proceedings can go a long way to ensure fair and equitable distribution between you and your spouse.
No matter how long you and your soon-to-be ex-spouse were married, you likely purchased personal property as a couple. The Utah Courts explains that anything from jewelry to cookware to personal vehicles can be considered personal property, and may be identified as marital property as long as it was acquired during the course of your marriage. Beyond that, personal property that has a title with your name on it can still be considered marital property in many cases. Dividing personal property in divorce generally involves evenly distributing duplicate items and separating items of similar value.
Real property is typically identified as land and any attached buildings like a house. As long as you and your soon-to-be ex-spouse purchased something like a home during the course of your marriage, the house can be considered marital property even if your name isn’t on the deed under many circumstances.
There are several ways that real property can be distributed in divorce proceedings. For instance, you could decide to buy the property from your soon-to-be ex-husband or wife. Another way to go do is to sell the property entirely and split the money evenly. Of course, the property division information provided here may not apply to your divorce case at all. That is why it should not be interpreted as legal advice.