What is division of marital property?

Division of marital property is a part of Arizona divorce law that determines how to divide the property and assets that were acquired during the marriage. This includes both tangible property, such as cars, furniture, and real estate, as well as intangible assets, such as stocks, mutual funds, and bank accounts. When determining how to equitably divide marital property in Arizona, the court considers factors such as the age, health, lifestyle, occupation, earning capacity, and liabilities of each spouse, as well as the duration of the marriage. The court may also consider any contribution that either spouse made to the acquisition of the property. In cases where one spouse earns more income than the other, the court may award the higher-earning spouse a larger share of the marital property in order to achieve a fair and equitable distribution. In addition, the court may award one spouse full ownership of particular pieces of property, such as a family car or home. In situations where one spouse is the primary breadwinner or custodial parent, the court will likely award the primary breadwinner a larger share of the marital property. Additionally, the court may consider whether the property was acquired by either party prior to the marriage. If so, it will likely remain the separate property of that person. Ultimately, the court looks to provide a fair and equitable division of marital property in keeping with Arizona divorce law.

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What is division of marital property?

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