The equitable distribution of the property law ensures the equal distribution of the property among both the spouse while having a legal separation or divorce. All the properties come under such an agreement. Any property that has been acquired during the marriage is also included such an agreement. Now take a look into the properties that come under this law:
The properties that come under this law
The equitable distribution of the property law has managed to provide both the spouse with equal ownership of their properties during a divorce. Under this law, all such property is considered that are acquired before, after or during the marriage. Read about the properties that come under this rule:
- Any property earned by either of the spouse during the marriage is liable to division under the law.
- The properties that has been bought after the marriage.
- Any debt that has been taken by the couple is also liable to division between the two.
- Personal properties like cars, boats, airplanes, furniture etc come under the law.
- Cash, securities, bank accounts, even the retirement accounts should also be considered liable to division.
- Property that you may have obtained by inheritance or gift. It may be before, after or during the marriage.
- Compensation that may have been received for personal injuries.
- Property that may have been acquired in exchange of your separate property during your marriage.
Now put some focus on the process that includes such equitable division of properties:
The process of equitable division of properties
The process may not be that simple which it may actually look like. There are many such concerns that become very difficult to be dealt with. Such issues demand an expert hand. Only an experienced professional or an experienced lawyer would know the facts that need to be dealt with delicacy, so that there is a fair distribution of the properties. This is why it is important for you to contact a best attorney of your area, someone who has good experience in dealing with property related cases. It may be your family lawyer alexandria va or any specialized lawyer. Nevertheless, it is necessary that you examine well before you put your case on their hands. The equal distribution or division of the properties between the spouses during a divorce would account for their future well being.