Distinguishing Community Property
As part of the normal process of divorce, you and your partner will be expected to divide all of the assets you hold. Anything that is considered to be community property, then, is likely to be divided equally between you and your partner. Since you and your partner will have particular attachments to specific pieces of property, this process can be exceedingly difficult to work through. Privately owned property, however, will not be subject to this process of asset division.
Community and Private Property
Before you and your partner engage in the asset division process, you will need to distinguish between the property that is privately held and that which is held as community property between you and your partner. Items that will generally be considered to be privately held include:
- Anything that belonged to you before the marriage began
- Anything that was mutually agreed to belong to you alone
- Anything that was given to you as a gift
Consult with a Divorce Attorney in Raleigh
If you will be pursuing a divorce with your partner, you should speak with one of the Raleigh divorce attorneys at Marshall & Taylor PLLC about protecting your interests throughout the process of asset division. To speak with a Raleigh divorce attorney about how our firm can help you work through your divorce, please call our Raleigh offices at 919-833-1040 today.