Equitable Division of Property: Overview by Georgia Divorce LawyerSeptember 24, 2012
Georgia divorce law regarding property division is primarily concerned with justly dividing the assets obtained before and during the marriage. Georgia divides property into two general categories: separate and marital. The category of the property falls determines how it will be divided.
It is important to note that whether property is separate or marital is not immediately apparent. Many times, both parties will need to present an argument for why the property at issue should be categorized either way.
1. Separate Property
-What is separate property?
Separate property is property that was owned prior to the marriage by one of the parties. Separate property can also be property acquired during the marriage from an inheritance or a gift to one of the parties.
-How is separate property divided?
Separate property remains the property of the party who acquired it or who owned it prior to the marriage. Generally, separate property will not be considered when assets are divided between the parties. The exception is if the property appreciated in value during the marriage due to efforts by either party.
2. Marital Property
-What is marital property?
Marital property is property acquired by the parties during the marriage.
-How is martial property divided?
Marital property is divided according to the principle of equitable division. Equitable division means that the property will be divided fairly, but not necessarily equally.
-How is equitable division determined?
The court has broad discretion in determining what will result in the equitable division of the property and will consider all relevant factors. These relevant factors include each party’s contribution to the acquisition and maintenance of the property (both monetarily and as a homemaker), and the purpose and intent of the parties regarding the ownership of the property. Any prenuptial agreement would also be taken into consideration.
Hiring an attorney to advocate on your behalf is the first step towards ensuring the just division of property. The Divorce Attorneys at Breakfield & Associates are committed to providing our clients in the Hall County, Georgia area with confidential and qualified legal representation.
If you have any questions regarding property division, or any other question related to seeking a divorce, please Call or Email the Divorce Lawyers at Breakfield & Associates, Attorneys, today for a free and confidential initial consultation.
About the authors: David Purvis and John Breakfield are attorneys with Breakfield & Associates, Attorneys in Gainesville, Georgia and handle Divorce and Family Law matters. The law office of Breakfield & Associates, Attorneys can assist clients through out Georgia including: Hall County (Gainesville, Oakwood, Flowery Branch), Forsyth County (Cumming), White County (Cleveland), Lumpkin County (Dahlonega), Gwinnett County (Buford, Sugar Hill, Lawrenceville), Dawson County (Dawsonville), Habersham County (Demorest, Cornelia), and all of Northeast Georgia.
This article and video should not be considered nor relied upon as legal advice since it is only intended for general overview and informational purposes. Please consult with an attorney on your specific situation in order to determine an appropriate legal course of action.