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What do you need to know about property division and divorce?

On Behalf of | Feb 5, 2020 | Property Division

In case you fail to reach an agreement with your spouse regarding property division in Hawaii, then a judge will rule on the issue. The judge will be guided by the state laws on property division when ruling on the matter. The statutes governing property litigation differ from state to state.

Some states will allow you to divide both your marital and separate property upon your divorce. When allocating the property, the court will take into consideration its origin. The judge will distribute separate property first before he or she divides the marital assets.

The separate property refers to the non-marital property which you or your spouse acquired before and brought into the marriage. Such property is usually in your name. Also, it is different from the marital assets that you acquired jointly with your spouse during your marriage.

Typically, marital property refers to the assets and earnings that you acquired jointly with your spouse during your marriage. Marital property excludes individual gifts and inheritances. However, if the title of the property is only in your name, but you paid for using marital funds, then the court will deem such property as marital property. Besides, the pension that you earn during your marriage is also considered marital property.

States have statutes that guide on property division during a divorce. In most states, marital property gets divided equally between you and your spouse.  In other states, the court uses its discretion to share the property as it deems valid, equitable, and fair. Such courts will make decisions on a case by case basis.

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