Property Transfer in Divorce – It’s Complicated
At the time of granting a divorce or legal separation the court can assign to either spouse all or any part of the property of the other. If the court judges it necessary to carry out the terms of its divorce decree, it may convey title to real property to either party or to a third person, or it may order the sale of the real property.
A conveyance made pursuant to a divorce decree vests title in the recipient, and binds all persons in the same manner as a sale ordered by the court. When the decree is recorded on the land records, it transfers title of the real property just as if it were a deed.
In determining property division and the nature and value of property, the court considers the following factors:
- length of the marriage
- causes for the annulment, divorce or legal separation
- age, health, station, occupation, amount and sources of income
- earning capacity
- vocation skills
- education
- employability
- estate
- liabilities
- needs of each party
- opportunity for future acquisition of capital assets and income
The court also considers the contribution of each of the parties in the acquisition, preservation or appreciation in value of their respective estates.
The division of property in a divorce can be extremely stressful and is extremely important as many couples make a significant investment in real property during the course of their marriage, and in other assets as well. Because Connecticut is an equitable division state, a judge will not necessarily divide marital assets straight down the middle. Instead property is divided based on the factors listed above. It is important that your interests are properly represented so as to achieve a fair and equitable property division in your divorce.
My expertise can help you understand property division in divorce and achieve the best results for your specific circumstances. For more information contact me at (203) 544-9945 or beth@eedwardslaw.com
