Sentences with phrase «nonmarital property»

Statement of Marital Property and Nonmarital Property: used in cases involving property division, pensions, etc..

Law Offices of J. Scott Falls: Differences in Marital Property and Nonmarital Property in South Carolina

During a marriage, marital and nonmarital property is often mixed.

Conversion by gift: When one spouse makes a gift of nonmarital property to the marriage, the gift is converted to marital property.

Contribution and reimbursement: In the clear absence of intent to make a «gift,» contributions from nonmarital to nonmarital property, are reimbursable at divorce.

Although Pennsylvania marital property laws generally classify inheritances as nonmarital property, increases in value to nonmarital property might become marital property while the spouses are married.

The factors allow a court to consider each spouse's marital property received during property division as well as each spouse's nonmarital property.

Nonmarital property may include any assets and liabilities acquired prior to the marriage that has not increased in value due to marital money or labor.

Nonmarital property may also include assets or liabilities acquired by a non-interspousal inheritance or gift, or assets and liabilities excluded from being considered marital property in accordance to a valid written agreement, such as a prenuptial agreement.

Property which is not marital property is often called separate property or nonmarital property.

The Pennsylvania Divorce Code establishes the presumption that marital property includes «all property acquired by either party during the marriage [without regard to title], including the increase in value... of any nonmarital property acquired [prior to marriage or by gift, bequest, devise or descent].»

A party who contributes nonmarital property to the marital estate may be entitled to a credit, which declines over time, to compensate for the nonmarital contribution.

Not exact matches

When assets are divided during divorce, one of the most important elements is determining whether property is considered marital or nonmarital.

Florida law details which property and debts are marital, meaning they belong to both spouses, and which are separate (nonmarital), meaning they belong to one spouse alone.

Illinois law distinguishes between «marital» and «nonmarital» property.