Property Divisions in an Arizona Divorce
Arizona is different from most of the rest of the country when it comes to property divisions after a divorce. In Arizona, when you get divorced, all of the couple’s assets and debts acquired during the marriage are owned equally by both parties. If one of you purchases real estate, you both own it equally, if one of you accrues medical debts or school loans, both of you owe them equally. During your divorce, our goal is to help you and your ex come to an agreement on the division of your assets and liabilities out of court.
What is the difference between separate and community property?
Separate Property is defined as property that was purchased by one party before they were married, or that they were given or inherited before or during the marriage. It can also include property or assets that are itemized in a prenup or premarital agreement.
Community Property includes all property that couples accumulate or pay off together during their marriage. Community property could be defined as marital property. That means that if one party purchased a home or vehicle prior to the marriage and then uses the family money or joint account to pay the monthly payments, the court can deem those assets a “gift” to the marital community.
Notable exceptions to the 50/50 Property Divisions
There are some assets and debts that the court might decide to omit from the property division, like the prenup listed above. The judge can also exclude irresponsible spending on the part of one of the spouses, like gambling losses or money spent on an affair. We can help you understand the ins and outs of your property division when we meet with you.