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Michigan divorce laws regarding division of assets classify property as either "marital" or "separate". Generally, marital property is subject to distribution while separate property isn't. When dividing property, the first thing courts need to determine is which one of those categories property items fall into.
Michigan law requires judges to divide property fairly. Fair usually means that each person gets about half of everything. But in some cases, a judge could decide it is fair to divide marital property in a different way.
Divorce Laws in Michigan: A Beginner’s Guide. If you are a Michigan resident considering divorce, there are several laws and processes you should know about before taking your first steps. This guide will take you through how assets get distributed, how child support is calculated, what to do about child custody, and much more.
Feb 12, 2024 · When dividing property during a divorce, courts evaluate several factors. These aim to ensure a fair split of marital property based on the principle of equitable distribution.
Feb 1, 2024 · Michigan state law wants assets that were acquired during the marriage to be divided fairly—not necessarily equally. However, determining separate and community property and how to divide property and debts depends on the circumstances of each case.
Michigan divorce law recognizes two different types of property: Separate property and marital property. Understanding the difference and how separate property can become marital property is important to knowing how your assets will be divided in a Michigan divorce.
Feb 1, 2021 · Commingled property included any assets or debts that have elements of both separate and marital property. For example, under Michigan law, assets that initially would have been separate property but that increased in value due to the support or investment of the other spouse may be divisible.
Whether a piece of real property is an asset or a debt, the judge will divide the value of it in your divorce. If the judge awards one spouse a piece of real property that is an asset, the other spouse may be given other property to balance that award.
Michigan law generally allows a person to keep property if it is “separate property.” Separate property is typically acquired before marriage or inherited during the marriage, but kept separately. It is not divided in a divorce, unless there are special circumstances.
Assets belonging to a couple can either be marital or separate property. Marital property consists of all assets earned or acquired over the marriage, such as homes, furniture, cars, pension plans, or retirement accounts. Such assets are divided between the couple upon a divorce.
