Marital vs. Separate Property
Marital property is property that is acquired by either or both parties during the marriage. It doesn’t matter which party earned the money that was used to acquire the marital property. In addition, for divorce purposes, the name on a title (such as a car title, bank account, or deed) doesn’t determine the parties’ respective rights. Under Ohio law, marital property is to be divided “equitably,” which generally means “equally” unless there are good reasons why an “equal” would not be fair.
Separate property is property that a party brought into the marriage, or property that was gifted to or inherited by a party. Under Ohio law, separate property is retained by the party who inherited it, brought it into the marriage, or to whom it was gifted.
Attorney Linda J. Miller can help you to identify your marital and separate property issues. Contact her at 614-556-4285.