Birmingham Property Division Lawyer
Protecting Your Rights & Fighting for Your Fair Share
Divorcing spouses in Alabama who have been married for more than 10 years may be able to divide their marital property in a divorce, rather than going through a traditional uncontested divorce. Doing so can save them time and reduce their legal fees. In order to qualify for a property division, the couple must meet certain requirements and follow certain procedures.
To qualify for a property division:
- The couple must be married for 10 years or longer.
- The divorce must be filed in Alabama.
- The divorce must be no-fault.
- The couple must have no minor children together.
If you have questions about whether you qualify for a property division, do not hesitate to consult with a Birmingham property division attorney who can review your situation and help you determine your options.
How Does a Property Division Work in Divorce?
In a traditional divorce, spouses must divide their assets and debts before they can finalize their divorce. In a uncontested divorce, however, spouses can ask the court to divide their property for them, rather than handle the process themselves.
What is Marital Property in a Divorce?
When spouses are getting divorced, they must divide their marital property. Marital property is any asset or debt that was acquired or incurred during the marriage. This includes all property that the couple owned before they got married, as well. Some examples of marital property include:
- Real estate
- Bank accounts
- Retirement accounts
- Stock options
- Property (e.g., furniture, artwork, collectibles)
Some property is considered separate property, which spouses keep after their divorce. Separate property includes:
- Property the spouse owned before the marriage
- Income the spouse earned during the marriage that was not shared with their spouse
- Gifts the spouse received during the marriage
- Inheritances the spouse received during the marriage
Spouses can divide their property in any way they see fit, as long as they are honest and fair about it. However, the court may not grant a divorce if spouses do not disclose all of their assets, as the court may not know the true value of the assets if the couple does not knowingly tell the court about them.
What Does a Property Division Include?
During a property division, spouses must divide all assets and debts that they owned or incurred during their marriage. This includes real estate, vehicles, bank accounts, retirement accounts, pensions, and more. Spouses can divide their property in any way they see fit, as long as they are honest and fair about it. However, the court may not grant a divorce if spouses do not disclose all of their assets, as the court may not know the true value of the assets if the couple does not knowingly tell the court about them.
Contact (205) 984-1915 to speak with a Birmingham property division attorney about your options.
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