Portland Property Division

The term property division refers to the distribution of marital assets that are accumulated throughout a marriage.  When spouses are about to divorce, one of the issues they will have to address is the division of their joint assets, also known as “marital property”.  Marital property is defined as any property that is acquired throughout the marriage and it includes, but is not limited to:

• houses
• cars
• savings
• debt
• gifts

Any property that is acquired outside of the marriage, before the marriage or after the marriage is categorized as “separate property”.  Separate property is not subject to distribution, which means that it remains in possession of its owner.

In some cases, spouses who are divorcing may have a verbal agreement on how their property is to be divided or have an existing prenuptial agreement that addresses the division of their assets.  Other times, spouses will need legal help in order to determine how their assets will be split.

In the state of Oregon, property division cases are presided over by a judge who must decide upon the distribution on assets.  Before a judge will award property to spouses, he or she will examine things such as:  the value of the property, the role of the spouse in acquiring or purchasing the property, the length of the marriage, each spouses’ income, each spouses’ ability to earn income, existing post-nuptial agreements and prenuptial agreements, the age of the spouses, the health of the spouses, the custodial arrangement, and any tax consequences.

If you are currently going through a divorce, and you have questions or concerns related to the division of your property, it is a wise idea to speak with an experienced Portland divorce lawyer.  A divorce attorney can help you comprise a list of your marital and separate assets, inform you of your rights and obligations, and protect your best interests both in and out of court.

If you are going through a property division or related family law matter in Oregon, now is the perfect time to speak with a professional Portland property division attorney!