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Property Division in Divorce: Partition
For purposes of divorce, "partition" is a legal process that divides property, usually real property, into fractional shares for the spouses. Divorce or legal separation establishes grounds for partition in a divorce for jointly-owned marital assets of the spouses.
Date of Valuation With Respect to Property Division in Divorce
One important factor in property division in divorce is the date of valuation of the spouses' assets and liabilities for purposes of dividing marital property. The courts must consider the date of valuation in order to establish a consistent basis for determining a fair distribution of marital property. Fixing values for different assets and liabilities at different times can affect the true value of assets and liabilities that a spouse receives.
Uniform Premarital Agreement Act
A premarital agreement, also known as a prenuptial or ante-nuptial agreement, is an agreement made between the parties in anticipation of their marriage. Such agreements can cover issues such as property division upon divorce, as well as child custody, child support, and alimony. Although premarital agreements have been increasingly embraced for their ability to resolve complex property and support issues without resort to trial, the lack of uniform language included in such agreements has been noted as potentially problematic.
Alimony: Temporary Support
Temporary alimony is the same as temporary spousal support, and both provide sustenance to the dependent party through the course of a divorce case. During the proceedings, the dependent spouse and the parties' children may require financial support, and courts may grant temporary support for that purpose. Dependant spouses can seek temporary support during legal separation as well.
