If you and your spouse have come to the decision to end your marriage, you may have questions about certain aspects of the divorce process, such as how belongings will be divided between the two of you. Tennessee is an equitable division state, meaning that a court will attempt to allocate shared property and assets as fairly as possible. To learn more about the division of property in a Chattanooga divorce, reach out to an experienced divorce attorney at our firm to ensure your rights are protected throughout the entire process.
A judge must determine what property is separate and what is marital property when splitting assets in a divorce in Chattanooga.
Property that was acquired before the marriage, that was a gift from a third party, that was inherited, or that is excluded by a valid agreement and that has not been commingled or transmuted by mixing and mingling with marital assets is considered separate property. This property is not eligible for division in the scenario of a divorce.
Marital property is the exact opposite of what is considered separate property. It includes any assets acquired during the marriage, as well as any property that was brought into the marriage and commingled. Both parties have an equal claim to any marital property during a divorce.
There are many elements that could influence a judge’s decision when splitting up property between two parties in a Chattanooga divorce, some of the common considerations include:
A judge will consider all the factors above, as well as any other areas of relevance, and then will divide the property as equitably as possible between the two parties.
As you can see, the division of property in a Chattanooga divorce can be complicated. While the state of Tennessee calls for the equitable division of property, ultimately how the assets are split up is up to a judge’s discretion and interpretation of the relationship. There are numerous components and factors involved that can have an influence on how things are allocated.
For help ensuring that your rights are protected, and your side is heard, reach out to a seasoned attorney at our firm. Our dedicated legal professionals could work to prove that certain assets are rightfully yours and should be considered separate property, such as family heirlooms or keepsakes. Call now to schedule a consultation and learn more about how we could help.