Property Division: Dividing Property, Assets & Debts in Ohio
PUBLISHER’S NOTE: I thought this basic primer was worth posting once again especially now that we are at the start of “divorce season”. Division of debts and assets in a divorce is not always a simple or cookie cutter process.”
Property Division in Ohio Can Be Complicated In Marriage Breakup – Hire A Experienced Divorce Lawyer Early
Depending upon the issues in a marriage breakup, dividing assets and debts is usually a preliminary topic of conversation. This can be a complex and lengthy discussion depending upon the nature of the assets, length of the marriage, and title of the property. The first aspect of analyzing how the court may divide property pertains to whether or not the property was acquired before or after the date of marriage. If the property is separate pre-marital property, that property would remain the property of the initial owner and would not be subject to division.
In Ohio, property acquired during the term of the marriage is generally divided “equitably”. While the courts in Ohio strive to create a fair property division, this may not always lead to a 50/50 equal distribution. But, … Read More... “Blast From The Past: Divorce: Dividing Property, Assets & Debts in Ohio”
Depending upon the issues in a marriage breakup, dividing assets and debts is usually a preliminary topic of conversation. This can be a complex and lengthy discussion depending upon the nature of the assets, length of the marriage, and title of the property. The first aspect of analyzing how the court may divide property pertains to whether or not the property was acquired before or after the date of marriage. If the property is separate pre-marital property, that property would remain the property of the initial owner and would not be subject to division. In Ohio, property acquired during the term of the