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[P760]Property Division In Divorce
by Dabbah & Haddad, Dab
Following a divorce, the court must divide the property between the spouses. Before legislatures equalized property allocation between both spouses, many divorce statutes substantially favored property allocation to the wage-earning spouse. According to a Cornell University Law School publication, these statutes greatly disadvantaged women disproportionately because during the 18th, 19th, and early-20th centuries, the participation of women in the workplace was much less than it has become during the latter-half of the 20th century and early part of the 21st century. The statutes failed to account for the contributions of the spouse as homemaker and child-raiser.

With regards to property division today in Los Angeles and Glendale family law specialists note that modern courts operate more precisely when dividing property between two parties. Courts today recognize two different types of property during property division proceedings - marital property and separate property. Marital property constitutes any property that the spouses acquire individually or jointly during the course of marriage. Separate property constitutes any property that one spouse purchased and possessed prior to the marriage and that did not substantially change in value during the course of the marriage because of the efforts of one or both spouses. If, according to top family attorneys Los Angeles property-owning spouses (or individuals) trade the property for other property or sell the property, the newly-acquired property or funds in consideration of the sale remain separate property.

Modern division of property statutes strive for an equitable division of the marital assets. An equitable division does not necessarily involve an equal division but rather an allocation that comports with fairness and justice after a consideration of the totality of the circumstances. Recently, we spoke with Glendale divorce lawyers who explain that by dividing the assets equitably, a judge endeavors to effect the final separation of the parties and to enable both parties to start their post-marital lives with some degree of financial self-sufficiency. While various jurisdictions permit recognition of different factors, most courts at least recognize the following factors: contribution to the accumulation of marital property, the respective parties' liabilities, whether one spouse received income-producing property while the other did not, the duration of the marriage, the age and health of the respective parties, the earning capacity and employability of the respective parties, the value of each party's separate property, the pension and retirement rights of each party, whether one party will receive custodial and child support provisions, the respective contributions of the spouses as a homemaker and as a parent, the tax consequences of the allocations, and whether one spouse's marital misconduct caused the divorce.

Los Angeles family law experts tell us most jurisdictions also give the family court judge broad jurisdiction by providing judges with the right to consider any other just and proper factor. When assigning property, judges cannot transfer the separate property of one spouse to another spouse without the legislature having previously passed an enabling statute. Whether such an enabling statute exists varies between jurisdictions.

During a divorce procedure there are a lot of aspects that need to be taken into account; property division is just one of these aspects. The division of property is a judicial division of property rights and obligations between spouses during divorce. It may be done by agreement, through a property settlement, or by judicial decree.

A property division is not necessarily a physical division of property. What happens during a property division is the court will award each spouse a percentage of the total value of the property and possessions that have been accumulated since not only the marriage began but also as far back as when the relationship began. This is often a very traumatic experience, which is why it is important that the division of property is sorted as soon as possible so that all the parties included can move on with their lives.

The notion of property division is an aspect of family law that varies depending on what state you are in. The courts divide property under one of two basic schemes, which are community property or equitable distribution. So what is the difference between the two? Well with community property division, all the property of a married couple is classified as community property, which means it is owned equally by both spouses. Community property division means that all of this is divided equally but anything that is solely owned by one spouse is theirs to keep alone. With equitable distribution however all of the assets and earnings that are accumulated during marriage are divided in a fair manner but this nay not necessarily mean equally. In practice, often two-thirds of the assets go to the lower-wage earner and one-third to the other spouse.

Depending on the state that you live in depends on what type of property division you will be facing but in general both parties will have a percentage of the overall property and possessions. The law of property division includes all property, including inheritances and gifts, and property owned by one of you before the relationship began. Many of you may not be left thinking well what happens to the actual property (house)? There are many answers to this question depending on your situation. If children are involved then the house goes to the custodial parent. If there are no children involved and the house is only in one spouses name then the property is theirs alone and they have the right to ask their partner to leave. If however the house is in both names then neither spouse has the legal right to kick the other one out. The way that this is settled is you can either come to a mutual agreement or you can leave it for the courts to decide.

It is very common for a couple to decide to divide their property and debts themselves without the involvement of the court. This decision depends on the nature of the relationship between the divorcing couple but in many cases this is the easiest option if all you both want to do is get on with your lives. Either way the property will be divided in what is classed as the fairest way and each of you will get a percentage that you can use to start your new life.

Article Source : Divorce Papers

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Both Dabbah & Haddad & Jannelle Zawaideh are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Dabbah & Haddad has sinced written about articles on various topics from Divorce and Infidelity. Glendale Family Law Attorneys in Los Angeles provides Family Law Services in Glendale and valencia specializing in Los Angeles Family and Divorce Law.. Dabbah & Haddad's top article generates over 1300 views. to your Favourites.

Jannelle Zawaideh has sinced written about articles on various topics from Family Concerns, Child Custody and Parenting. Jannelle Zawaideh is a who offers payment plans to help you through your troubled time. If are looking for a. Jannelle Zawaideh's top article generates over 2400 views. to your Favourites.
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