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Marital Property Division FAQs
What Is Marital Property?
Marital property is any assets, property, funds, investments, or interests that a couple gained during the course of their marriage.
Is Arizona a 50 50 State in a Divorce?
Yes, Arizona is considered a community property state. This means that during a divorce, all shared assets and property that was gained during the marriage are split equally. However, there are some exceptions to this rule, such as separate property.
What Is Considered Separate Property in Arizona?
Separate property may be any assets that one spouse had prior to the marriage, gained through inheritance or a gift from the spouse. Additionally, assets or items detailed in a prenuptial agreement are considered a separate property.
What Happens to the House in a Divorce in Arizona?
Unless the house was owned by one spouse prior to the marriage, it will be considered community property which will require the house to be divided evenly during a divorce. This may lead to the house being sold and the profits being shared between each party.
In some cases, one spouse can keep the house in exchange for other assets.
Contact a skilled Scottsdale property division attorney from Singer Pistiner, PC today at (480) 418-7011 to schedule a consultation.
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