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Is all property divisible in a divorce?

If you file for legal separation or divorce in Ohio, you and your spouse have a host of factors to discuss when creating a divorce settlement. One of the common issues you may come up against is that of property division. It can be extremely difficult for couples to separate all of the items they accumulated during the course of the marriage. Property that is eligible for division, otherwise known as marital property, includes items such as gifts given to one another during the marriage, expensive antique collections, tax refunds, former employer benefits, copyright royalties, stocks, 401K plans and many more. However, not all items are able to be divided in the divorce settlement.

Separate property, when taken care of correctly, may stay in the possession of the original owner even after the divorce is finalized. Separate property includes items, such as gifts given to either spouse by a third-party, inheritance money, property owned by a spouse prior to the marriage and personal injury settlement money. There are some situations where separate property may become intermingled with marital property, and in these cases, the property becomes eligible for division. For example, if inheritance money is deposited into a joint back account, shared with the other spouse’s name, the money becomes marital. Similarly, if the title to a property is renewed to add the spouse’s name, the property may be considered marital. It is important that separate property is kept away from any other property and assets.

This information is intended to be used for educational purposes and should not be taken as legal advice.

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