Division of Property
The division of marital property is a crucial part of any divorce.The future financial stability of each spouse may rise or fall on the proper and fair distribution of marital property and assets.
So what factors does the court consider when dividing marital property?
The division of marital property is based upon the New Jersey Equitable Distribution Statute, N.J.S.A. 2A: 34-23. Property inherited by a spouse during the marriage is not subject to distribution. Also, property that is “pre-marital” (meaning owned by a spouse prior to marriage) also is not subject to equitable distribution, so long as that asset has not been commingled with marital property.