What is division of marital property?

Division of marital property is a term used in divorce law in North Dakota to refer to the process in which assets and debts acquired during the marriage are divided between the two spouses. This process is based on equitable distribution, meaning that the property should be divided in a fair and reasonable manner. It is important to note that North Dakota is not a community property state, meaning that property acquired during the marriage is not automatically divided 50/50 between the spouses. Instead, the court may consider many factors during the process of division of marital property, such as the length of the marriage, the ages of the parties, the respective incomes of the parties, and any assets or debts acquired prior to the marriage. In addition, the court may consider any other factors that it feels may be relevant to the division of property. Ultimately, it is the court’s responsibility to distribute the marital property in an equitable way, taking into account the best interests of each spouse.

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What is division of marital property?

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