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When we got married I paid for the house and all the big ticket items out of my own funds – shouldn’t this affect my settlement?AnswerIn short, the origin of marital assets is a factor the court will consider when dividing assets. However, the answer to this question depends what you mean by "my funds." In general, property acquired during the marriage is "marital property" and is subject to division between the parties. This includes wages earned during the marriage. Assets acquired before the marriage are generally not marital property and stay with the owner. If an item is purchased exclusively with non-marital funds, the purchased item may be considered non-marital property. However, if non-marital funds are commingled with marital funds, the non-marital funds may become marital property. Category |
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