Division of Property

Divorce marks the annulment or dissolution of marriage and there are varied reasons

which may lead to this adverse culmination of a matrimonial relationship. During divorce, there are various issues that cause dispute between the couple, and one of the major concerns between the couple is the division of property.

Division of property is referred to as the judicial division of the property between spouses in case of a divorce. In the final divorce agreement, the court clearly divides the property rights and obligations between the divorced couple This property settlement is also referred to as equitable distribution, which can be reached upon through a property settlement or a judicial decree that is binding on both the spouses.

Property settlements can take place through amicable agreements between both individuals, which needs to be approved by the court. This settlement generally involves division of two types of property, namely community or marital property and separate property. The property purchased by either or both the spouse during their marriage is referred to as the community or marital property. On the other hand, the property purchased by either of the two before the time they were married is referred to as the seperate property. The settlement may also refer to any property which is not covered under the community or marital property.

Generally there is equal distribution of the property, however in case it is not then the court can divide the property in a manner it deems as equitable. However, the court can take all necessary measures to make the division of the property equitable and one that is in the best interest of both the spouses.

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Division of Property

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