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Property Division in Rome, NY Divorces

There are many marriages that end in divorce throughout the United States. One of the more highly contested issues in this situation is that of property division. New York is an equitable distribution state, which means that all marital assets will be divided equally amongst the marital parties in the process of property division in divorce. There are two kinds of property as far as divorce is concerned: marital property, and separate property.

Marital property is defined as any assets or liabilities acquired during the course of a marriage, starting from the day that the marriage becomes official. Separate property is a more difficult element; the following are the criteria that distinguish marital property from separate property:

  • Any property that is acquired before the marriage has become official
  • Compensation for personal injury lawsuits or claims
  • Any property acquired through the use of separate assets to trade or purchase. For example, you have a car that you obtained before marriage, and you use this car to trade-in for another vehicle without using any marital assets to obtain this new vehicle.
  • Property that is specifically designated as separate, in writing, by both marital parties

Contact the firm today!

If you are facing marriage and preparing to enter into this committed relationship, then it is wise to consider the possibility of a divorce, and what will happen to your assets in this situation. It is important to know that you may be able to prevent the division of these assets through a prenuptial agreement, or a postnuptial agreement. At the Law Office of Diane Martin-Grande, we understand the situation, and you can be sure that we will work with you to pursue the future that you need. Contact us today to discuss your situation, and to begin the process of retaining the skilled legal assistance that you need on your side.

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