Property Division And Equitable Distribution
Issues surrounding property division can be one of the most hotly contested aspects of any divorce proceeding. New Jersey law follows the rule of equitable distribution. It is important to keep in mind that “equitable” does not mean the same thing as “equal.” While a straight 50/50 split of property does occur on some occasions, it is more likely that property may be divided 60/40 or otherwise unequally. The overriding factor for property division is to ensure that all marital assets and debts are divided fairly between the two parties. It is vital to have an experienced lawyer on your side who can help with property identification and valuation.
At the law firm of Laemers, Murphy & Neggia, LLC, our attorneys are skilled at property division negotiations. We can let you know what your agreement is likely to entail and can advocate for your interests through negotiation or litigation.
What Type Of Property Is Subject To Division?
Marital property and debts are subject to the rule of equitable division. Put simply, any assets or debts that are acquired throughout a marriage must be divided between the divorcing parties. Property that was owned prior to the marriage, gifts or inheritances may not be subject to division. However, property that was owned before the marriage took place may effectively become marital property, depending on how it is used. These issues can become complicated quickly in a divorce, which is why having skilled legal counsel to help guide you through this process is essential.
Facing A Divorce? Contact Us For The Legal Advocacy You Need.
We are committed to helping you achieve a fair and equitable division of property. To schedule a time to discuss your case, call us at 973-383-7600. You may also contact us online and we will get back to you as soon as possible. From our law office in Newton, we represent clients throughout Sussex County and surrounding areas.