Upon the dissolution of a marriage, during the divorce court trial and process, certain other factors will also be determined. These factors may include such things as child custody, child support, alimony, and the distribution of marital property. How the distribution and dispersion of said property is determined relies solely upon a few legal precedents and factors.
Before marital property can be divided, the courts will take the time to classify, characterize, and assess the value of the property. When the property is characterized, the courts seek to determine if said property is joint or communal property (meaning belong to both individuals), if the property is separate (only belonging to one of the individuals), or if the property is quasi-marital. Quasi-marital property is property that was acquired while at least one spouse believed they were still legally married.
Once the marital property is classified and characterized, the courts must give each property item a monetary value. Keep in mind, marital property is not solely land or housing property, but can and will include all possessions and belongings. This means that the automobiles owned by the couple, all of the items within their home or homes, stocks, investments, and other assets are all considered marital property. This property will either be given a set value based upon an appraisal or the current market value of said item. In certain circumstances, the estranged couple may agree upon the value of an item, without seeking the thoughts of an appraiser.
After a monetary value has been assigned to all of the joint, communal, and quasi-marital properties of the separating couple, the court will then divide the entire amount in half. An equitable division, with both parties receiving half, is the most common standard for the courts in the United States. As a result, this could mean that one party retains the home and belongings inside the home, while the other party retains the liquid assets, investments, and automobiles. There are numerous ways in which to divide the total marital property, and often items of extreme value will need to be liquidated or sold prior to the division.
Unfortunately, neither party is allowed to file an appeal of property distribution solely based upon the fairness of the final decision. If one party feels that they were wronged in not getting the home, for example, in the settlement, this is not a valid standpoint for an appeal. In the court’s eyes, the entire value of the marital property was divided equally, therefore there is little legal recourse for appeal. However, if the appellant and their attorney can prove that the decision was is some way unlawful, then there could be grounds for appeal.
Learn more about your options for appealing a property division judgement in a free phone consultation with the appellate attorneys at Holstrom, Block & Parke, APLC!
I appreciate you making yourself available when needed most.
"Sharon, Thank you so much for helping me through this process! You not only provided sound legal advice, but great emotional support! I appreciate you making yourself available when needed most and for being so patient with me. Thank you! Thank you!"
Honest, aggressive and amazing!
"Honest, aggressive and amazing! I had a bad divorce agreement with my ex-spouse that she was not living up to but was actually trying to make worse for me in terms of time with my kids and finances. I hired Dayn due to overwhelmingly positive reviews of his knowledge of the law and past ..."
Her knowledge helped me to get the result that I wanted.
"I would recommend the Holstrom, Block & Parke team to anybody. My attorney Kristen Holstrom did give a lot of information and her knowledge helped me to get the result that I wanted. Everything was good with their services but the court system is the only thing I had to have patience for. Thank ..."
Oh my goodness!
"Oh my goodness! Holstrom, Block & Parke exceeded my expectations of a law firm. I am a single mom who was very overwhelmed with the process of child custody and child support. I was operating without legal representation and as a result, I was constantly being taken advantage of. From the moment ..."
I am forever (and continually) appreciative of her guidance.
"I am so grateful and appreciative to Dayn Holstrom and Leigh Collins for their assistance with my child custody dispute.Leigh has been absolutely phenomenal during this process, dealing with my frantic calls and emails every time my ex-husband pulls one of his many (and on-going) stunts. Leigh is ..."