What Are The Differences Between Separate Property and Marital Property in Virginia Divorce Cases?
Divorce is difficult. It’s emotionally, financially and physically tough for most people affected by divorce. However the decisions you make during your divorce will have a lasting impact on your live after divorce. Make the right decisions by getting the best advice and representation. Make your first right decision by calling Lynchburg Family Law Attorney Marcy Jones at 434-845-2463.
One topic that affects almost all of Marcy’s clients is the difference between marital property and separate property in Virginia. We’re providing some information here; however, you should talk with Marcy to see how the facts of your case might affect the classification of your property.
Separate Property in Virginia
Examples of separate property in Virginia include:
- Any property acquired before the marriage;
- Any property acquired during the marriage by inheritance or from a source other than your spouse that has been kept separate; and
- Property acquired after the date of separation.
Marital Property in Virginia
Examples of marital property in Virginia include:
- Any property titled in the name of both parties (except possibly re-titled property); and
- Any Property acquired during the marriage which is not separate property
Hybrid Property in Virginia
Hybrid property (meaning part-marital property and part-separate property) includes:
- Any property owned before the marriage that has increased significantly in value during the marriage due to the efforts of either party or the addition of marital property; and
- Any property acquired by one spouse during the marriage by gift or inheritance which has been combined with marital property (like using an inheritance to pay off the mortgage on the marital home).
For couples who’ve been married for awhile, and acquired property together, it can be difficult to sort property into these categories; especially when issues of hybrid property arise. You want an experienced Family Law Attorney to help you through this process to ensure that the property division during the divorce is fair. Lynchburg Attorney M. Marcy Jones is that experienced divorce lawyer you need on your team.
Call Family Law Attorney M. Marcy Jones at 434-845-2463 for an appointment or use the contact form to send her a message.
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