What Happens to My Property in a Divorce?
Property division is probably one of those issues in divorce that is full of contention. How will the division take place? Who gets what? It is always best if the two of you can come to a meeting of the minds before approaching the court, but if you can’t there are things that can happen that will help, if you have a good attorney.
Utah law has a requirement that there must be a fair distribution of the marital property. This doesn’t mean that it will be equal. The website called “Utah Courts” can give you more information on this topic. Property division cannot be re-opened once the court has finalized the issue. There are only certain circumstances under which this division can be re-opened. If the marriage was short, the judge will probably decide to award you what you had before the marriage took place.
Separate property includes assets that you had before the marriage which can be gifts, court awards, an inheritance or even pension proceeds. Additionally, if you acquired property from the separate property, you can keep that as well. In other words, if you buy a boat from money that you inherited, you can keep the boat.
If you and your spouse purchase items together, with co-mingled funds, the judge will decide what happens to it when you are getting a divorce. If you purchased a home together, and you don’t have children to take care of in that house, the house may be sold and the profits divided between the two of you.
Going online and doing some research will make your case easier and more successful.
Source: FindLaw, “Divorce and Property Division FAQ,” accessed Dec. 30, 2015
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