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An important aspect in any divorce is the division of assets or divorce property division between two parties. For some couples, property division is not limited to residential, but also includes community property, shared or individual assets, and investments.
At Sonoran Law Group, we investigate all aspects of property division for our clients and help them retain or regain the property or properties in question. We will give a short overview of what to expect in your mediation or court date regarding the division of assets and property, as well as how we can best represent you and make sure your property and assets are protected.
Community property in Arizona law includes any investment in a property that has acquired a certain amount of earnings or debt. During mediation, you might have a conversation with your family law attorney and any other party regarding what properties or assets are shared, so you can come to a reasonable solution regarding its division.
Separate property is indicated as gifts, inheritance, funds, or property and the legal entitlement is given to the individual who received the property either before or during the marriage. Likewise, a business venture forged before marriage belongs to the original business owner and could be considered individual or community property depending on when and if the business revenue increased after marriage or partnership with the other spouse.
Your divorce lawyer or family law lawyer will be able to give you specific instructions on the difference between community and separate property classifications based on your unique case.
The main point of concern in who is able to stay in the house after a divorce or separation is whether or not you have children. Under normal circumstances, the parent who spends the majority of time with the children or provides primary care will remain in the residential home.
Arizona divorce laws for property division of a couple without children is very different. The spouse who purchased the home before the marriage will be entitled to stay.
If the marital home was forged between the two spouses after marriage, neither spouse has the right to kick the other out. You must decide during mediation or during your court date who will stay and who will leave, or if you both will leave the home.
Whether your divorce is an easy and amicable situation or sticky and emotional, you will want to hire a lawyer who will help you ease into your new life comfortably and with the result you desire after the division of property has been settled. We understand this is a difficult time for individuals and couples — let us help you make the transition easier.