A common issue that needs resolution in divorce cases is property division. Laws dictating how property and debts will be divided vary from state to state.
In Georgia, marital property is divided equitably.
Georgia is an equitable distribution state, which is different from a community property state, where all marital property is equally divided between the spouses.
In an equitable distribution state, the court divides the couple’s marital property fairly--but this doesn’t always mean an equal division.
Property division in a Georgia divorce begins with an inventory of the couple’s assets. They’re then classified as either marital or separate property.
Here’s a quick explanation of the difference between the two:
Georgia courts are not bound by predetermined formulas or rules in deciding how to divide marital property. Because they’re “courts of equity,” they are given complete discretion to distribute property according to the given circumstances of each case.
Courts, in general, depend on certain factors—such as each spouse’s income and earning capacity, alimony award, separate property, conduct towards each other during the marriage, and future needs—to decide what would be a fair and equitable distribution.
When deciding how to divide it during a divorce, a Georgia court will consider several factors, including whose name is on the deed and any investment of separate property to purchase, build, or improve the marital home.
There are three possible ways to divide a marital home in Georgia:
Property division can be a contentious and emotional issue for a divorcing couple. If you and your spouse are seeking a divorce, it’s important to work with a qualified and experienced attorney.
Your divorce attorney will ensure that all assets and debts are properly accounted for before an equitable and fair division.
At Sharon Jackson Law, we understand the need for proper representation in a divorce proceeding. We’ll help you understand all your options and ensure that your rights and interests are protected.
Contact us today at (678) 909-4100 to schedule a consultation.
Attorney Sharon Jackson LLC
175 Langley Drive, Suite A1
Lawrenceville, GA 30046
Phone: (678) 909-4100
Fax: (678) 281-0482