What is Separate Property?
Helping Clients Keep Divide Their Separate Property
Divorcing couples quickly find that the division of property is one of the most difficult divorce-related issues. Couples also learn that two distinctions need to be made regarding marital property: separate property versus community property.
At the Law Offices of Randy W. Medina, APLC, we help clients through the process of property division. We work carefully to distinguish between separate and community property to work towards the objective division of property.
To schedule a consultation with divorce lawyer Randy W. Medina, contact us online or call us at (626) 432-1975, or toll free at (800) 387-5575.
What is Separate Property?
Separate property is any property acquired by either spouse before the date of the marriage and after the date of separation. One of the most important factors to consider for both separate and community property division is determining the date separation. This does not necessarily refer to the date of physical separation, but rather the date of realization that the marriage was irreparable.
Separate property is also any property acquired during the marriage as a gift or inheritance to one spouse. Separate property may also refer to property that was explicitly determined to be one spouse's and not the other's.
What if I Used my Inheritance to Buy Our House?
If one spouse used money acquired as a gift or through inheritance to pay for a house, he or she may be entitled to reimbursement by the other spouse. Gifts and inheritances made explicitly to one spouse and not the other are considered separate property.
What if I Owned my Business Before the Date of Marriage?
Dividing a business in divorce can be a very complicated process. If a business was started before the date of the marriage, it is considered separate property. However, if the business was improved, expanded, or financed during the marriage, it may be considered partially community property.
When dividing a business in divorce, not only must determinations of separate versus community property be considered, but also the value of the business. If you are divorcing and face property division involving a business, it is best to consult an experienced property division lawyer.
Contact Us
To set up a consultation with marital property division lawyer Randy W. Medina, contact us online or call our law firm at (626) 432-1975, or toll free at (800) 387-5575.
