The Law Firm of Jacobowitz & Defino, P.C. Press Property Division After Divorce in New Jersey - What To Know

Property Division After Divorce in New Jersey - What To Know

By Abdul Bari January 06, 2015

Divorce is one of the most hassle prone and complex processes that people have to go through in their lives. This is because, divorce is not merely getting separated from one another and living a free life, but also about getting the decision made about a lot of different things, like child custody, property division, spousal support etc. and one of the most hassle prone and confusing part of all these things is the part of property division. While the fact that most people are aware of the fact that it is only marital property which gets divided after divorce, many people are not so clearly aware of what exactly is marital property and how is that different from individual or separate property. This article has therefore been drafted to throw some lights on how according top the family law New Jersey, property gets divided after divorce.

Division of marital property:

This term and its validity for determining the division of the marital property after divorce is probably one of the most confusing parts and people rarely completely understand the meaning of marital property when it comes to the matter of property division. According to the family law New Jersey, people who undergo divorce, have to divide their marital properties, whether that be a real estate property or gifts or even money. Hence; any property that is invested in and cared for by the married couple within their tenure of marriage, will be termed as the marital property. For instance, a real estate property as purchased by even one of the spouse after the marriage will be a marital property and both the spouses will have their rights over the property. Apart from that, even if the other spouse did not invest in buying the property, but has merely upgraded it or cared for the property, the spouse will be given share of the property after the divorce of the couple. For instance; if the husband had an individual property like a house from before marriage and the wife cared for the property by painting it or renovating some of its parts, the wife will become entitled to receive a part of the property upon property division after divorce.

Independent property:

Independent property is something which has not be jointly invested in or cared by jointly and which has just been used and renovated by the husband. According to the family law New Jersey, such a property remains just with the husband upon divorce and the wife cannot claim even a single part of that property.

For further details visit New Jersey Family Law and Divorce Attorneys or if you wants an appointment then contact Monmouth County Divorce Lawyers - 257 Monmouth Road Oakhurst, NJ 07755

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