In Ohio, belongings acquired previous to marriage are typically thought-about separate property and stay below the only real possession of the person who acquired them. This contains actual property, autos, financial institution accounts, investments, and different tangible or intangible belongings. For instance, if one partner owned a home earlier than the wedding, it sometimes stays their separate property all through the wedding, even when the opposite partner contributes to mortgage funds or dwelling enhancements in the course of the marriage. Nonetheless, the character of separate property might be altered whether it is commingled with marital belongings or if a partner deliberately transfers possession to joint possession.
Understanding the excellence between separate and marital property is essential for property planning, asset safety, and potential divorce proceedings. Defending premarital belongings helps people keep management over property they acquired by means of their very own efforts earlier than the wedding. Traditionally, this authorized precept displays the understanding that people enter marriage with pre-existing financial lives and pursuits that ought to be revered. Clear documentation, comparable to prenuptial agreements, can additional solidify the separate nature of premarital belongings and supply added readability and safety.