Sentences with phrase «separate property»

In community property states, the property is usually divided equally with the exception of assets acquired prior to the marriage classified as separate property by the court.

An inheritance is also considered separate property unless the spouse who received it combines it with community property.

However, if the gift is kept in a separate bank account, it will likely remain separate property.

Separate property includes property that either spouse had prior to the marriage, as well as gifts or inheritance either spouse receives.

A judge who divides marital property in any way other than equally, or who includes separate property in the division, must explain the reasons for doing so in the court record.

Additionally, gifts must be kept separate from marital property or the gift may be converted from separate property into marital property.

You just converted $ 5,000 in separate property into marital property.

The second section that I've highlighted involves how you should handle property that is acquired in exchange for separate property.

The court should confirm to each their sole and separate property if any.

Generally speaking, comic books based on separate properties for the sole purpose of promotion aren't very good.

The judge can not divide separate property belonging only to one party or real estate located in another state.

-- Part V — Beware: It's so easy to convert separate property into marital property you may have already done it!

Also, your spouse might have the opportunity to trace separate property through the account, which can mean that he won't owe you half the money that he took from the account.

Any income received from separate property during marriage is also considered marital property and subject to division.

When separate property appreciates because of joint efforts, the appreciation may be divided between the spouses.

While divorce laws and property division vary by state, courts may have discretion to divide separate property in a divorce depending on the circumstances.

Separate property assets are those which are acquired prior to the date of marriage or after the date of separation.

Also, an increase in the value of separate property where a spouse is actively involved in that increase will be considered marital property.

A leopard may never change its spots, but it isn't that difficult to change separate property into marital property, and it's even easy to do by accident.

The general rule is that only marital property should be divided, and that a party's separate property stays with that party.

Though laws vary by state, separate property typically includes assets acquired by gift, inheritance or before marriage.

Some state courts will tap into one spouse's separate property under certain circumstances.

Only marital property will be, with other types of property, called separate property, kept by each respective spouse.

Though separate property is not subject to division at the time of a divorce, gains realized during the court of the marriage to that property are.

With advanced training in all financial aspects of divorce including pension valuation, marital vs. separate property, taxes and tax optimization of settlements.

Separate property generally described as spouses property which is owned by that spouse before marriage or was acquired during marriage by gift or inheritance.

Generally, once a couple has separated, their earnings, retirement plan contributions and employment benefits such as restricted stock and stock options, and their debts become separate property.

This contains worksheets for dividing debts, community property, and determining separate property on your own.

This strategy has been used for years by those wanting to dive into real estate investing without buying an entirely separate property.

In some cases, some assets may be characterized as either community property or separate property depending on their origin.

There are two key concepts for asset division: defining what exactly is community property and what is separate property between spouses.

Under most circumstances, a divorce court can not divide separate property since it belongs solely to one spouse, particularly property inherited after the date of separation.

Sometimes separate property doesn't stay separate, however.

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.

State law can provide a spouse with the opportunity to trace separate property through a joint account.

The newly constructed complex, three separate properties utilizing state - of the art energy efficiency, consists of 77 affordable units, including 15 units for people with developmental disabilities.

Edit # 2 My whole answer was based on my misunderstanding that you were renting out a totally separate property to your girl friend.

Similarly, if a spouse has separate property such as a house or a business, it should be maintained with separate funds.

In the end, when it comes to property division, it is important for each party to have a good understanding of the laws surrounding separate property and marital property.

Any time separate property is placed in you and your spouse's name, it may be deemed marital property.

If you have valuable separate property, you need to hire an attorney to help you make sure that you keep it.

This coverage is separate property coverage specifically designed to protect your computer related equipment.

These package policies are very popular because they combine coverages into one premium that is generally more cost effective than purchasing separate Property and Liability policies.

However, what was once separate property may end up in the hands of the other spouse depending on the facts of the case.

Sometimes, the way the spouses treat assets in a bank account can cause separate property to become subject to division.

Separate property consists of personal items, gifts, money and property owned by either spouse prior to marriage.

Each jurisdiction has its own separate laws that govern separate property and marital property (often called «community property»).

Don't transfer, trade, conceal or destroy any marital or separate property prior to completion of the divorce without the permission of the court.