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Sc Divorce Laws Marital Property

There is a limited exception to the general rule that the court does not require spouses to review financial transactions before the filing date. “[A] spouse who removes or separates matrimonial property in return for divorce must either account for it or have part of his or her value deducted from that spouse`s share in the matrimonial property.” Dixon v. Dixon, 334 pp.C. 222, 512 pp.e.2d 539, 545 (Ct.App. 1999). In addition, property acquired after the filing of the action is not matrimonial property unless it was obtained through the exchange of matrimonial property. For the purposes of knowing whether the property is matrimonial, regardless of whose name the property is titled, it.B a house. Anything that was acquired after a party was filed with the family court is generally not considered matrimonial property. When matrimonial and non-marital property is mixed (mixed) in a way that makes it impossible to decide what is marital or illegitimate, all property becomes matrimonial. A classic example of mixing is when the couple deposits their fight money on paychecks, etc.

into a financial account that belonged to a party before the wedding. Note: Since state laws are constantly changing, it`s important to confirm the accuracy of the laws you`re looking for by doing your own research or contacting a competent attorney. If it is found that one of the spouses has destroyed marital funds in a manner that has injured the other spouse, the court may take punitive or remedial measures by granting the injured spouse a higher percentage of the shared property. However, the court cannot divide non-marital property. Non-marital property is property that was: Also known as equitable distribution, asset division is the process of dividing property rights and obligations between spouses during the divorce process. The division of ownership may be agreed between the soups through a property settlement, or it may be decided by a court during the judicial divorce proceedings. The process of dividing property is influenced by state laws such as community property laws, definitions of contributions to marriage, etc. Marital succession arises when one of the parties brings an action for separate maintenance or divorce. The family court cannot divide property that is not part of the marital estate. Often, a party will seek compensation for the funds they used during the marriage to pay off the other spouse`s debts, but since neither the funds nor the debts remain in place at the time of filing, the family court cannot provide compensation. Panhorst v.

Panhorst, 301 pp.C. 100, 390 pp.e.2d 376, 379 (Ct.App. 1990) provides the best explanation of the court`s reasoning: a matrimonial agreement or pre-nup is a binding legal contract signed by both spouses before marriage in South Carolina. A prenup that includes a shared ownership agreement can take precedence over South Carolina`s shared ownership laws by determining what is considered separate from matrimonial property and agreeing on how finances are structured during marriage and divided in the event of divorce. Property acquired before marriage is generally considered non-marital property, subject to the exceptions explained below. When a couple divorces, all property or assets acquired during the marriage must be divided. States do this in two ways: community ownership and equitable distribution. South Carolina`s matrimonial property laws, like most states, are equitable distribution laws. Sometimes, even if the property is out of wedlock, a spouse may be granted a special stake in that property.

This special participation can also be granted if the property is not converted. As a general rule, this special contribution is granted when the direct or indirect contributions of one of the spouses increase the value of the illegitimate property of the other spouse. A common example of this is when one of the spouses makes significant maintenance or repairs to the property inherited from the other spouse or provides assistance to the other spouse to obtain illegitimate property. Once the court has determined which property is matrimonial and which is not, and has assessed the property, the court must ultimately distribute the matrimonial property fairly. There are many factors that the court must consider when dividing this property. A complete list of factors that the family court considers in the equitable distribution of matrimonial property can be found in section 20-3-620 of the South Carolina Code. South Carolina law provides for judicial review of a spouse`s contribution to the upbringing of his or her partner during a marriage. .

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