Virginia Divorce Laws: Distribution of Marital Property

Virginia divorce law believes in the equal distribution of marital property. As per this law all property that has been acquired during the duration of the marriage will be divided fairly between the couples. While dividing the property each of the spouse’s contribution (monetary as well as non monetary) towards building the property will be taken into consideration. The decision will be taken by the judge in the court hearing after which the each of the spouses has to sign a separation agreement that will be drafted by their divorce lawyers. Facts taken into consideration by the Virginia court in dividing the property • The court will take into account the legal owner of the property and will determine its current valuern• The court will divide the property/properties as marital property, non marital party or partially both. • The court will consider the right and interest of each party towards the property in dividing the same. Depending upon the situation the court may order one party to pay certain monetary amount to the other party. rnIt is usually seen that the wife gets the house as share of the marital property depending on her future employment opportunities and the number of kids she has. If someone feels that the distribution of property involves a risk, then they must hire an experienced divorce attorney, to get a fair justice. Classification of separate and marital propertyrnThe court will consider all real and personal properties while dividing it. This may include jewelry, assets, real estate property, bank and credit union account, automobiles, business interest and other such properties inherited by the spouses during the marriage. However any future asset except pensions is not taken into consideration. The marital property will include • A property acquired by either of the spouse during the course of marriage. Such property must not be a separate property. • Any property that is part separate and part maritalrn• Any property whose title is shared by both the parties (one must prove this accurately in the court, a divorce lawyer can be consulted in case of any sort of uncertainty regarding the ownership of the property) Separate property includes • Any such property that is acquired by either of the spouse before marriagern• Any property that is inherited by either of the spouses or is gifted by some source to the spouse other than the marital partner Marital debts In the division of the marital property the marital debts are also taken into consideration. The court will consider the following factors in dividing the marital debt. • The liabilities and debts of each of the spousesrn• The reason behind the debt and liabilities of the marital property. (The court will consider special case where the debt is created due to one of the spouse.) • If the property was used as a security for any liability or debt by both the spouses This was a general summery of the distribution of property in the event of divorce. To get a through detail of the matter it is advised that you discuss the facts with a good family lawyer.