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All marital and part marital property is distributed upon divorce in an equitable manner. Equitable does not necessarily mean equal.
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Home > About Us > Practice Areas > Equitable Distribution
of Property and Debts
Equitable Distribution
of Property and Debts
Divorcing couples and their attorneys, or the court, must determine how to divide marital property and who will pay family debts. Property includes real estate, such as homes, land and buildings; and personal property, such as automobiles, bank accounts, stocks, bonds, pensions, furniture, and personal effects.
Classification of Property
Property is classified under Virginia law as "separate property," "marital property," or "part separate and part marital property" (sometimes referred to as "hybrid" property).
Separate property. Separate property owned by a spouse is not subject to division in a divorce proceeding, and instead remains owned by the spouse who acquired it (with certain exceptions, which your attorney will explain). Separate property may consist of:
- Property, real and personal, acquired before the marriage
- Property acquired during the marriage by bequest, devise, descent, survivorship, or gift from a source other than the other spouse
- Property acquired during the marriage in exchange for or from the proceeds of sale of separate property, provided that such property is maintained as separate property
- The separate property portion of property classified as "part separate and part marital"
- Income from, and increases in value of, separate property during the marriage
Marital property. Marital property is all property that is not separate. Even property solely titled in the name of one spouse is still deemed marital unless it falls within one of the above classifications of separate property
Distribution of Marital Property
All marital and part marital property is distributed upon divorce in an equitable manner. Equitable does not necessarily mean equal. To determine what is an equitable division of property, various factors are listed in Virginia's equitable distribution statute, including:
- The contributions, monetary and nonmonetary, of each party to the well-being of the family
- The contributions, monetary and nonmonetary, of each party in the acquisition, care, and maintenance of the marital property
- The duration of the marriage
- The ages, physical, and mental condition of the parties
- How and when specific items of marital property were acquired
- The debts and liabilities of each spouse, the basis for such debts and liabilities, and the property which may serve as security for such debts and liabilities
- The liquid or non-liquid character of all marital property
- The tax consequences to each party
- The circumstances and factors which contributed to the dissolution of the marriage, and related considerations
- Inappropriate use or dissipation of martial property in anticipation of separation or divorce or after the last separation of the parties
- Such other factors as the court deems necessary to consider in order to arrive at a fair and equitable monetary award
Debts
Family debts include amounts owed on a home, car loans, student loans, bank credit cards, unpaid bills, and unpaid taxes incurred during the marriage. Most of the factors governing division of assets also apply to division of family debts.
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