One of the biggest concerns and frustrations of a couple seeking divorce is the division of assets. This one question can cause further inconsistency in emotionally charged processes. Among the many aspects of the divorce regulated by state governments is the division of property and assets. In Arizona state, the law regulating the disposal of real estate is Title 25 Monthly and Domestic Relations, Article 318: disposal of real estate. Retroactive; notification to creditors; assignment of obligation; court appeal.
This statement stipulates that in divorce or legal separation proceedings, the court can assign the spouse's sole property to its spouse. The court can also divide joint assets. Therefore Arizona is called "community property" country. Community property may include all property and liabilities acquired from the start of the marriage to the end date. Real estate acquired by a spouse other than Arizona is considered a community property if it is legally considered a community property if it was originally entering Arizona state.
The settlement of official real estate and debt between spouses is called maritime settlement contract or real estate award determined by Arizona State High Court. The division of real estate is done regardless of misconduct.
Debt is not what many people think when thinking about the marine real estate department. The court may consider all obligations and obligations relating to property in the final judgment. Debt includes tax (accrued or unpaid) that is part of the sale of real estate. Title 33 Property, Chapter 8: Homestead and Personal Property There is an exemption for certain properties including Exemption.
Please note that the court's decision on the division of debt is binding on spouses, not creditors. Because debt is done between individuals and creditors (banks, credit card companies, medical companies, retailers etc), the court's decision is not necessarily the obligation of the spouse's debt.
If the spouse requests it, the court may issue a statutory lien against the property of another spouse to ensure payment of the debt to be paid to the spouse. This can be done to ensure payment of certain types of debt.
• Interest or equity owned by a single spouse
• Community debt the court must pay by his / her spouse
• Support
• Spouse maintenance
Title 25, Chapter 318 of Arizona State Marriage and Domestic Relations also allows for courts to hear damages and judgments contested by spousal criminal judgments. This reflects the situation that other spouses and children were victims of "joint expenditure, joint leasehold rights and other property rights abnormal expenditure, destruction, concealment, fraud."
The property possessed jointly is not included in the settlement clause, but it is held jointly owned. This means that both spouses maintain half ownership or equity of property. In addition, the final decision or judgment shall describe the property affected by the provision (including future and retrospective operation to the asset) under legal conditions.
The complexity of real estate splitting is not determined by reason of divorce. Whether contested or not, this decision will be made on a 50/50 basis unless there are additional circumstances. Because of the processes involved and the possibility of conflict, many spouses prefer to reach private reconciliation with the help of divorce lawyers.
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