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The Uniform Marriage and Divorce Act §307 (UMDA §307) [3] also allows for the equitable distribution of property and lists factors the court should consider, e.g. "the duration of the marriage, and prior marriage of either party, antenuptial agreement of the parties [which is the same as a prenuptial agreement or premarital agreement], the ...
The division of that equity during divorce typically depends on various factors, including any prenuptial or postnuptial agreements, state laws and the couple’s specific circumstances.
Certain state laws mandate an equitable distribution of property, wherein fairness takes precedence over equal division. While equitable does not guarantee equal sharing, it ensures a fair allocation. Alternatively, some states follow community property principles, where assets and property acquired during the marriage are considered communal.
The community property concept originated in civil law jurisdictions but is now also found in some common law jurisdictions. U.S. states with community property laws draw primarily from the marital property laws under the civil law of France and Spain. [10] Division of community property may take place by item by splitting all items or by values.
Step 1: Understand community property vs. equitable distribution states Before diving into specifics, it’s important to understand the legal framework that governs the division of assets during ...
Women’s rights groups count no-fault divorce law as a way to make marriage — an institution that has long provided the most material benefit for the husband — more equitable for women.
Some states are "community property" states, others are "equitable distribution" states, and others have elements of both. Most "community property" states start with the presumption that community assets will be divided equally, whereas "equitable distribution" states presume fairness may dictate more or less than half of the assets will be ...
Separate Property with Equitable Distribution: Under this system, when substantially more property acquired during a marriage is owned by one spouse (e.g. title to all marital property is held in the husband's name only), the courts will make an equitable distribution of the richer spouse's property at death or dissolution of the marriage.