Property Division Flashcards
Property distribution decrees v support awards
Prop distribution decrees are not modified and support awards are subject to modification
Two step process for division of property
- ## Classification
- Division
What is marital property
All property acquired by either or both spouses during marriage.
Vested and unvested pensions
Includes personal injury damages that replace marital type of funds (loss wages, medical bill reimbursement and property damage $)
WhAt is commingling
Inextricably intertwined property - will make separate property marital property
Approaches to division of property
Community property(all prop acquired during marriage is owned one-half by each spouse and property owned before marriage is separate)
Equitable division of all property
Equitable division of marital property (majority)