Property & Assets

Marital Property

All assets and debts acquired by either spouse during the marriage, which are subject to division in divorce.

Understanding Marital Property

Marital property includes income earned, homes purchased, retirement benefits accrued, businesses built, debts incurred, and other assets acquired from the wedding date until the date of separation or filing. Gifts and inheritances received by one spouse are generally excluded. The distinction between marital and separate property is critical because only marital property is subject to division. Commingling separate property with marital funds can convert it to marital property in many states.

Real-World Examples

The 401(k) he contributed to during the marriage was marital property, but the inheritance he received from his grandmother remained his separate property.

State-by-State Variations

Community property states (AZ, CA, ID, LA, NV, NM, TX, WA, WI) split marital property 50/50. Equitable distribution states divide it fairly but not necessarily equally.

Related Terms

Joint Property

Property owned by both spouses together, which must be divided or allocated during divorce proceedings.

Personal Property

Movable possessions such as vehicles, furniture, jewelry, art, electronics, and other items that are not real estate.

Partition

The legal process of dividing jointly-owned property, either by physical division or by forced sale with proceeds split between the owners.

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This definition is provided for educational purposes only and does not constitute legal advice. Divorce laws and terminology may vary by state and jurisdiction.

Always consult a licensed attorney in your area for advice specific to your situation.