What is Equitable Distribution?
Equitable distribution is the legal term for property division. While the term itself implies the property should be divided equally between the spouses, it is not always equitable to divide the property equally. As a result, property division can be one of the more complex issues accompanying a divorce.
How is property divided?
The process of dividing property starts by identifying all the property within the marriage, including:
- Determining whether one or both spouses has a right to the property
- Valuing the property
- Dividing the property
While it is assumed that the property should be divided equally, the court must consider many issues that determine what is equitable. Some of the related issues the court considers in determining what is equitable include:
- Length of marriage
- Tax issues
- Bad acts by one spouse affecting the value of the property
How do I protect my rights to my property?
Your rights to an equitable distribution of the property can be lost if you do not take action in time. Consult an attorney right away to discuss your situation and protect your rights regarding your property.