Hiring The Right California Small and Complex Asset Distribution Law Firms Can Make A Big Impact On Your Case
Aside from child custody issues, matters involving the division or distribution of marital property at the time of a separation and divorce are much more complex than they may appear. It will help you to have a San Diego property division lawyer to help represent your best interests. In California, there are specific laws governing how marital property is divided and what properties are subject to division. These laws are outlined in Division 7 of the California Family Code.
The type of property, its value, and the time in which it was acquired are all very relevant factors that the courts consider at the time of a divorce settlement. This is why it is important to retain the right property division attorney in San Diego for your case. It doesn’t matter how big or small your assets are we can help you.
Titles and Ownership (Title Presumption)
A common misconception is that marital property is divided based on which party’s name is on the title of ownership of the property. Having one’s name as the only name in the title does not allow a person to have the property exclusively. An example of this is if a man owns a car and it is titled in his name without mention of the wife. The courts do not consider whose name is on the title of the vehicle when making a determination of award.
Acquisition of Marital Properties
One of the main factors that the courts will consider when awarding property in a divorce settlement is when and how the property was acquired. Items acquired during the course of a marriage are considered belonging to both parties except in specific circumstances:
• Time of Acquisition
Properties acquired before the marriage or after separation have special consideration in divorce courts. For example, if a wife acquires something after her spouse has filed for divorce, it might be considered exclusively hers.
• Manner of Acquisition
Disability settlements and inheritances are often awarded to the spouse that they were intended for in the inheritance. For example, if after separation a man inherits his father’s sports car, the car would likely be awarded to the man at the time of the divorce since he was the intended recipient.
• Exceptions to Title Presumption
Unless there is a specific written statement at the time of acquisition that a specific property belongs solely to one spouse and not the other, all properties are considered to be owned jointly.
Examples of Marital Properties
Sometimes during a divorce case, one or both parties may question what is actually property. Any tangible item that is acquired during the marriage is considered property. Common properties that are subject to division by the courts include real estate, automobiles, electronic equipment, pets, boats and other recreational vehicles, collectibles such as coins, art and furniture. Basically anything tangible that has value is considered property. Other marital properties that are subject to property division laws are insurance policies and business ventures.
Property Division Lawyer in San Diego, California – The Importance of Having Representation
San Diego Property division in divorce court is one of the most common areas where disputes arise. Even the most amicable divorce can get messy when sorting out property ownership as each partner enters with specific expectations that they want met. Hiring an experienced divorce attorney is very important. An experienced San Diego Divorce attorneys should be well-versed in California property law and are able to apply it to each case they take. Please call 619-373-1482 now for help.