What are marital assets?

Marital assets are any property or resources that are acquired or owned during the marriage. In Oregon, marital assets are those that are owned by either or both spouses, either jointly or individually, and acquired during the course of the marriage. Marital assets can include but are not limited to real estate, personal property, stocks, bank accounts, retirement accounts, automobiles, household goods, business interests, and any other tangible or intangible property acquired during the marriage. These assets are subject to division upon divorce or legal separation. Different forms of marital assets are divided differently, depending on whether the asset is considered separate or community property. Separate property is any property acquired by either spouse before marriage, or any property acquired by gift or inheritance to one spouse. Separate property is exclusive to that spouse, and is not subject to division upon divorce or legal separation. Community property, on the other hand, is any asset acquired during the marriage, regardless of which spouse acquired it. These assets are subject to division in the event of divorce or legal separation. It is important to understand the different forms of marital assets in the state of Oregon in order to have a successful divorce proceedings. It is also important to note that any increase in value that occurs to a marital asset during the marriage is classified as a marital asset, and will be subject to division upon divorce or legal separation. For example, if a spouse purchased a car prior to marriage but the value increased during the marriage, the increase in the value of the car would be a marital asset.

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