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Property Division Basics in Ohio
Marital vs Separate Property
Property division in a divorce proceeding includes dividing the marital assets and debts.
This sounds like a simple process; but can prove to be quite complex.
We hope the resources below help clarify some of the issues for you.
Property division in a divorce proceeding includes dividing the marital assets and debts.
This sounds like a simple process; but can prove to be quite complex.
We hope the resources below help clarify some of the issues for you.
Property division in a divorce first turns on identifying the marital property to be divided, because separate property should be retained by the spouse who originally owned it.
Do you understand the difference between marital property and separate property?
Marital property as defined in Ohio Revised Code section 3105.171 is property owned by either or both spouses and property in which either spouse has an interest in the property that arose during the divorce.
Separate property as defined in Ohio Revised Code section 3105.171 is real or personal property that was inherited, acquired by one spouse prior to the date of marriage, acquired after a decree of legal separation under Ohio Revised Code section 3107.17, excluded by a valid antenuptial agreement, compensation for personal injury, except for loss of marital earnings and compensation for expenses paid from marital assets, or any gift of property that was given to only one spouse.
If you have questions or are ready to move forward with considering the property division process, we ask you to consider using our services. Otherwise, be sure to review the latest version of Ohio’s Revised Code to ensure you are working with the correct definition of marital and separate property.
Do you understand the difference between marital property and separate property?
Marital property as defined in Ohio Revised Code section 3105.171 is property owned by either or both spouses and property in which either spouse has an interest in the property that arose during the divorce.
Separate property as defined in Ohio Revised Code section 3105.171 is real or personal property that was inherited, acquired by one spouse prior to the date of marriage, acquired after a decree of legal separation under Ohio Revised Code section 3107.17, excluded by a valid antenuptial agreement, compensation for personal injury, except for loss of marital earnings and compensation for expenses paid from marital assets, or any gift of property that was given to only one spouse.
If you have questions or are ready to move forward with considering the property division process, we ask you to consider using our services. Otherwise, be sure to review the latest version of Ohio’s Revised Code to ensure you are working with the correct definition of marital and separate property.
If you are ready to move forward with the property division process, we ask you to consider using our services.
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Disclaimer: All articles and blog posts are for informational purpose only. This information was current as of November of 2016. The information does not constitute legal advice and should not be relied upon as a substitute for your hiring an attorney to review your specific legal issue. By reading this blog site you understand that there is no attorney client relationship between you and The Fogelman Law Firm LLC. To form an attorney client relationship, you must contact us, appear for a consultation, and sign a retention agreement before this firm will represent you.
Disclaimer: All articles and blog posts are for informational purpose only. This information was current as of November of 2016. The information does not constitute legal advice and should not be relied upon as a substitute for your hiring an attorney to review your specific legal issue. By reading this blog site you understand that there is no attorney client relationship between you and The Fogelman Law Firm LLC. To form an attorney client relationship, you must contact us, appear for a consultation, and sign a retention agreement before this firm will represent you.
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