What are equitable distribution of property laws?

Equitable distribution of property laws in South Carolina are laws put in place to determine how assets and debts accumulated during a marriage should be divided in the event of a divorce. These laws are designed to ensure all parties involved in the divorce receive a fair and equitable division of all marital assets and debts. In South Carolina, equitable distribution is the default form of property division. This means that if two parties are unable to agree on the division of their assets and debts, the court will divide them equitably. This means the division does not have to be equal, but it must be fair for both parties. In South Carolina, equitable distribution includes any and all assets and debts that were accumulated during a marriage. This includes money, real estate, business interests, debts, life insurance, retirement benefits, and any other property acquired during a marriage. The court steps in to divide these assets and debts fairly according to each party’s contributions to the marriage and other factors. The judge will also consider any prenuptial agreements or any other financial agreements that the parties made before or during the marriage. The court may decide to award “non-marital” property solely to one party if that party owned it prior to the marriage. The court will also consider any economic misconduct by either party when deciding how to divide the assets. In conclusion, equitable distribution of property laws in South Carolina are meant to ensure a fair and equitable division of all assets and debts accumulated during a marriage in the event of a divorce.

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What are equitable distribution of property laws?

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