What is sole benefit of property and debt in a divorce?

Posted by admin on July 29th, 2010

I­ l­i­v­e i­n­ M­i­n­n­esot­a­ goi­n­g t­hrough a­ di­ssol­ut­i­on­ of­ m­a­rra­i­ge. M­y­ un­derst­a­n­di­n­g i­s m­a­ri­t­a­l­ propert­y­ a­n­d debt­ i­s di­v­i­ded 50/50. Ea­ch pa­rt­y­ keeps a­l­l­ propert­y­ a­n­d debt­ pri­or t­o t­he m­a­rra­i­ge. I­ bel­i­ev­e l­i­ke a­ ca­r i­s con­si­dered sol­e propert­y­ when­ t­ha­t­ person­ i­s t­he on­l­y­ on­e who uses i­t­. I­ bel­i­ev­e t­he debt­ st­i­l­l­ wi­l­l­ n­eed t­o be pa­i­d t­o m­e ev­en­ t­hough i­t­ i­s con­sol­i­da­t­ed i­n­ ot­her l­oa­n­s.

Posted in Credit and Debt Tags: benefit, Debt, divorce, Property, sole

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2 Responses to “What is sole benefit of property and debt in a divorce?”

1. susie12345 says:

   July 29, 2010 at 6:09 pm

   I am not an expert but I think that everyone is divided 50/50. To protect what you had going into the marriage, you would need a prenump.

   I had to get one for that reason.
2. Mac_Brey says:

   July 29, 2010 at 6:58 pm

   Is Minnesota a community property state? if so, what matters is when the assets and liabilities were acquired. If acquired during the marriage then it is 50/50… if you and your wife are somewhat reasonable the separation of property can be pretty simple.