Property division is about everything you and your spouse own. It is divided into real property and personal property. Real property includes your home and any land you own – while personal property includes almost everything else, such as furniture, clothes, pictures, bank accounts and any other financial accounts you and your spouse hold together.
The general rule is that everything is split equally between the two parties. Everything includes all assets as well as all debts. However, there is also separate property, which includes whatever you came into the marriage with and didn’t include in the marriage as marital property – such as furniture or perhaps an inheritance from a relative.
If you are going through a divorce and have questions regarding your property distribution, contact an experience Orange County Family Law attorney who can explain this process and its effect on you.
