Recently, we discussed how the family court identifies marital property in marital litigation. Once marital property is identified, the family court has the power to divide it in equitable distribution.
Ways of Determining Equitable Distribution
The Court may employ any reasonable means to divide the property with the goal to achieve equity between the parties. Typically, the Court attempts to sever all joint interest in property as completely as possible. For instance, our courts have ruled that parties should not be left in a position where they will be doing business together.
The family court may order a party to transfer title in real estate to the other. The court may order a cash payout from one party to the other. The court may order the sale of marital property or other in-kind distributions. Retirement accounts and pensions can also be divided, and the court can order it in such a way where the parties do not experience penalties or tax complications relative to the division.
Contact Us Today Before You Sell Property During A Divorce
It is important that you have a lawyer on your side who knows how to advocate for you and properly present evidence to the court to help persuade it to distribute marital property in a way that is favorable to you. The stakes are often high and you don’t have to go through it alone.
If you are going through a divorce or would like to discuss marital property with a lawyer, please do not hesitate to call toll-free at 888-230-1841 to set up a consultation.