Introduction
Divorces can be quite a complicated and stressful process, especially when it comes to dividing property and assets. One of the most challenging situations in a divorce case is dividing property that was purchased with separate funds during the marriage. If you’re going through a divorce in New Hampshire and are in a similar situation, you’re probably wondering how the property will be divided. This article is here to guide you through the process of dividing separate property in a New Hampshire divorce.
Understanding Property Division Laws in New Hampshire
When it comes to property division in a divorce in New Hampshire, the state follows the principle of equitable distribution. This means that all property and assets acquired during the marriage are subject to division between both spouses in a way that is fair and reasonable. However, when it comes to property that was purchased with separate funds during the marriage, the situation can be a bit more complicated.
What is Separate Property?
Separate property refers to any property or assets that were acquired by one spouse before the marriage, through inheritance, or as a gift during the marriage. It’s important to note that separate property is not subject to division in a divorce, and the owner of the property is entitled to retain it.
However, if separate property is commingled with marital property, it can become difficult to trace and divide. Commingling occurs when a spouse mixes separate property with marital property, making it hard to differentiate between the two.
Division of Property Purchased with Separate Funds During the Marriage
When it comes to property that was purchased with separate funds during the marriage, things can get tricky. In New Hampshire, if the separate property can be clearly traced, it will not be subject to division in a divorce. However, if the funds used to purchase the property were commingled with marital funds, then the property will be subject to division.
For instance, if one spouse purchased a house using inheritance money they received before the marriage, and the home is titled solely in that spouse’s name, it may be considered separate property and not subject to division. However, if the spouse used additional marital funds to maintain or improve the property during the marriage, determining the exact value of the separate property can be a challenge.
Hiring a Divorce Attorney
Dividing property that was purchased with separate funds during a marriage can be a complex process, and it’s best to have a qualified divorce attorney to assist you. A divorce attorney can help determine the exact value of your separate property and advise you on how to protect your interests during the divorce process.
Conclusion
In conclusion, dividing property that was purchased with separate funds during a marriage can be a challenging task in a New Hampshire divorce. It’s crucial to understand the difference between separate and marital property, as well as the process of property division in the state of New Hampshire. If you’re going through a divorce and require assistance with property division, it’s always best to consult with a qualified divorce attorney who can guide you through the process and protect your interests.