MARTIAL LAW

 

New York has fair division state which states that each spouse owns income earned during the marriage. Each spouse has right to manage property that has his or her name. But during a divorce, the judge will decide the fair distribution of assets which may not be exactly equal.  Marital property is the property acquired after marriage.  The property acquired before marriage is considered a person or separate property.  The court has no authority to distribute person or separate property when the marriage dissolves.  In case the property was acquired through inheritance or a gift from a third party, it is termed as separate or personal property.  But if the property was acquired before marriage but has added in value as a result of the effort of the other party, it is considered as marital property. The Empire State adopts the Uniform Disposition of Community Property Right at Death Act. The Act preserves community property state to non- community property state.  According to New York Marital Property Law, the property was divided according to the names which appeared on the title for a given property.  In case the spouses paid a mortgage, the name of an individual in the title would get the house.  The main aim of fair distribution during divorce is to make sure there is a fair distribution of properties with respect to the contribution made by each spouse.  During distribution, the judge would consider the income and the property of each spouse, health and age of each spouse, the likely future needs of each spouse, the domestic need of custodial parent and if the alimony has been awarded.

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