Sentences with phrase «during the marriage belongs»

Any assets and / or debts acquired by spouses during marriage belong to both spouses, and must be split equally during divorce proceedings.

If you live in a community property state — Arizona, California, Louisiana, New Mexico, Nevada, Idaho, Texas, Washington or Wisconsin — assets and debts you acquire during your marriage belong equally to both spouses, except in certain narrow circumstances, such as assets acquired by inheritance or gift that you kept separate from your marital assets.

This means that any property (other than gifts or inheritances) you and your spouse acquired during the marriage belongs equally to both parties and any joint debts incurred during the marriage are the equal responsibility of both parties.

Not exact matches

Separate property states maintain that assets owned before the marriage or acquired during the marriage, but housed in an account separate from the joint account, belong only to the authorized user.

States having community property rules consider everything earned by either spouse during the marriage as belonging to both spouses equally.

Under Arizona's community property law, all earnings by either spouse during marriage are presumed to belong to the community (the two spouses).

If one spouse owned property before the marriage, or received gifts, inheritance or money from a motor vehicle accident before or during the marriage, that has increased in value during the course of the marriage, the Court has the ability to use its discretion to divide up any increase in the value of the property, although the principal amount will belong to just the one spouse.

In general terms matrimonial property includes all assets belonging to the parties individually or jointly which was acquired during the period of marriage and held as at the date of separation, less any debts similarly held by the parties individually or jointly as at that date, subject to a few exceptions.

Marital property typically includes assets acquired during the marriage and separate property belongs exclusively to one spouse.

Generally, gifts made to one spouse are considered «separate property,» meaning it belongs solely to the spouse who received it, even if received during the marriage.

California is a community property state, which means that anything accumulated during the marriage, whether income, debt, a house, or a kitchen appliance, is presumed to belong to both parties.

In these states, property acquired by the couple during the course of the marriage belongs to the spouse who earned it.

In many states, legal marriage means that all of the assets, wealth, property, and debt belong to both of you equally, regardless of who earned it during the marriage or who's «at fault» for the divorce.

This essentially means that you get to keep what belongs to you (property you owned prior to the marriage) and all shared property (property you owned during the marriage) will be divided equally between you and your ex-spouse.