Navigating the Complexities of Separate Property Division
Video Transcript: Divorce can be challenging, especially when it comes to dividing assets and determining what belongs to whom. One of the common questions that arise during divorce proceedings is what happens to the income or appreciation of one spouse’s separate property.
When one spouse has income from separate property, the other spouse may want a share of it. However, the courts have different schools of thought on this matter. The earlier version suggests that income from separate property that was acquired jointly during the marriage remains separate property.
For instance, if one spouse had a rental house before the marriage, and it generated income during the union, the court might consider it separate property. However, income from separate property can become marital property if there was marital labor involved in generating it. For example, if a spouse owned a rental house before marriage, and the other spouse brought in tenants, income from the rental property would be marital property.
Moreover, if income results from economic forces and marital labor does not contribute to it, it remains separate property. Stocks owned by one spouse, for instance, may increase in value due to economic forces and still remain separate property, as no marital labor contributed to it.
Dividing appreciation of marital property can be tricky, and laws vary from state to state. Some states consider appreciation of a property marital if it occurs during the marriage, while others consider only the income as marital property. In conclusion, the division of assets in a divorce can be complicated, and it’s essential to have a divorce lawyer who can guide you through the process.
If you have any questions about income or appreciation of a spouse’s separate property in Oklahoma divorce, don’t hesitate to contact a divorce lawyer in Oklahoma at 405-888-5400 or visit theoklahomacityattorney.com for a consultation.
