The manner in which an asset is owned—i.e., in one spouse’s name instead of jointly held—does not exclude it from being considered property subject to division in the divorce. For example, if your spouse accumulated a pension benefit during the course of the marriage, you have a marital interest in the pension benefit even though ownership of the asset is held in your spouse’s individual name. Likewise, if the deed to the marital residence is held in one spouse’s name, the other spouse still has a marital interest in the equity accumulated in the property. While other factors may impact how the Court divides the assets, the manner in which an asset is owned, or title to an asset is held, is not determinative.
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- Divorce & Family Law