Marital Property
/ˈmærɪtəl ˈprɑːpɚti/
Definitions
- (n.) Property acquired by spouses during their marriage that is subject to division upon divorce or annulment.
The court determined that the family home was marital property subject to equal distribution.
- (n.) Assets and debts considered jointly owned by spouses under community property or equitable distribution laws.
Retirement accounts are often classified as marital property in divorce proceedings.
Related terms
See also
Commentary
Marital property typically excludes property acquired before marriage or by gift or inheritance unless commingled; defining it clearly aids in fair asset division.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.