When two people get married, they begin a marital property regime where all assets of the marriage belong. This can include financial accounts, real estate, and other properties that were purchased during the marriage or have, by law, become marital when the marriage was instituted.

In a divorce, these martial assets, of course, have to be divided among the spouses. But it doesn’t always happen to be a 50/50 division. A lot of things come into play when determining how these are divided and which assets each spouse gets. It gets particularly complicated when it comes to real estate, which forms the largest part of marital properties to divide. 

In a divorce, knowing and understanding the assets that a person has is crucial to protect their rights and ensure that they get what they are entitled to. When getting divorced, the most important thing to do in relation to assets and properties is to create a comprehensive list of all financial accounts, as well as real estate owned. 

With a clear view of all these properties, an attorney can assist in determining which of those belong to the marital property and which ones are solely owned by one spouse. How this is determined will depend on a variety of factors, such as: 

• How the property is titled
• When the property was acquired
• How the property is being paid for 
• The source of mortgage payments, etc. 

All these matters in identifying whether certain properties are premarital or included in the marital estate. And if certain real estate is solely owned by one spouse, they get the benefit of not having that asset divided. 

Financial matters are always sensitive and complex, especially when coupled with a divorce. Often, it would involve heated conversations between ex-spouses. An attorney experienced with real estate and divorce can help navigate the complexities, defend their clients’ rights, and obtain what they are entitled to.