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What is Mine and What is Yours?: Distribution of Property in a Divorce

In a divorce case in Oregon, you and your spouse have the option of settling between yourselves how you will deal with your belongings, money, debts, and other property. However, if there is anything you cannot agree on, or if you would rather it be settled by a third party, Oregon law mandates a just and proper division (though this does not necessarily mean equal).

In the court’s eyes, everything you and your spouse acquire during marriage is considered marital property.  The court will take into consideration whether property was kept separately, but is possible – even likely – that they will divide it.

In addition to marital property, the court will examine all assets owned by both parties, regardless of how and when the property was acquired. Ultimately, the court can make a “just and equitable” division of all property, even if it was acquired prior to marriage.

However you decide to handle it, dividing up property is often a contentious issue and can be a confusing and emotionally charged process. The offices of the lawyers at McGuire + Thompson, LLC, near OHSU, are conveniently located for anyone in the tri-county area needing legal counsel or advice. Visit our website at portlandfamilylaw.com and give us a call to find out more about how we can help you make your divorce go more smoothly.

 

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