By Carl O. That means that the assets and debts acquired during marriage i. Property acquired during marriage is generally marital property, regardless of how it is titled with limited exceptions in cases of premarital or other separate property.
Upon issuing a decree terminating a marriage, the court will divide marital property based upon the value at the time of dissolution, not separation. A Colorado divorce court will divide the marital property equitably almost always means equally , based upon the value on the day of dissolution unless the parties agree otherwise. In most cases, that will result in an equal division of the marital estate, but under C.
Separate property is a surprisingly complicated concept. While one can point to a car, sofa, or painting, and say that one spouse owned it before marriage, so it is separate property, that's not the end of the analysis. How about a vehicle which was financed a day before marriage, and paid off completely during marriage? Or paid off partially? While generally property which either spouse has brought into the marriage remains separate property as long as it is separately titled, it is more accurate to think of the net equity of an asset, not the asset itself, as this considers the paydown of any liens, and increase in value.
If the original property inherited has been invested or exchanged, the property thereby acquired remains separate property providing it can be traced, through a series of exchanges, to the original separate property. This can be extremely difficult if, e.
Titling separate property in joint names creates a presumption that the spouse who had the separate property intended to make a gift of it to the marital estate. This is one of the only instances where how property was titled matters for a divorce. Neither spouse may dissipate marital property once a party has filed for dissolution. Furthermore, if during the marriage one spouse improperly used marital property for non-marital purposes, a judge may "recapture" the value of that property into the marital estate.
