Property division is one of the challenging bits of a divorce. You can agree on how to split valuables, assets, and debts with your partner. When this is not possible, or the issues involved are complex, both of you will have to rely on the court to decide on your behalf. Several factors go into determining how the assets will get divided among you.
One factor that will determine the division of valuables is the type of divorce you want. For instance, in an uncontested separation, the couple will agree on all the divorce terms and file the paperwork with the court.
According to the CDC, this type of divorce does not occur in a formal setting. It is also less expensive in terms of resources and time. For a contested divorce, you will have a lot of disagreements in critical things like property, children, and alimony. Therefore, you may need to go to court and have a judge decide for you.
Another factor that plays a significant role in property segregation is the type of property you own. The main question most people ask is, “who goes with what?” A court will first need to know what separate and community property are involved.
The difference between these two property types is that separate property is what you acquired before marriage while community property is what you have acquired during the marriage.
If you can agree on how you want to divide your properties, share custody, and other responsibilities, the court will have no choice but to sign off your agreement.