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The purpose of this article is to give a brief overview of the concept of marital and separate property under Section 236B of the Domestic Relations Law of New York, commonly referred to as the Equitable Distribution Law. This article is not intended to be a definitive treatise on all of the law in New York concerning property distribution upon a dissolution of a marriage.
the increase in the fair market value of an asset since the time it was acquired.
We don’t live in a fantasy world. Divorce is a harsh reality that more than one half of married couples will face. Therefore, it is critically important to try to protect any premarital assets in the event there is a divorce. If a spouse has any premarital assets whether by his own savings, or by an inheritance, then these assets should be kept separately.
In Minnesota, all property acquired during the marriage by either party is presumed to be marital property.
After determining that a couple wishes to obtain a divorce, one of the major issues that will be encountered is how to divide the property acquired during the marital relationship. This process is defined by the courts as equitable distribution.
a listing and valuation of property owned by both parties seeking a divorce.
in a divorce, a preliminary to distribution of property.
An explanation as to how property is classified and distributed upon divorce.
How to decide whether or not property is separate or marital upon divorce.
a good idea even in good times, a must in souring housing market.
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