Part of the process of obtaining a divorce entails the division of marital property between the spouses. In a divorce, the courts do not generally exercise rights over nonmarital property, which includes property acquired by either spouse prior to the marriage or inherited property. However, the courts may preside over marital property, which is normally acquired during the marriage. The process of determining the division of these assets must take into consideration a variety of stipulations, such as which spouse was involved procurring, maintaining, and handling the object; the value of the property; the length of the marriage being dissolved; rights from a prior marriage; etc.
For a quick response to your questions regarding marital property, contact us at 301.464.7448.