In Michigan, divorce proceedings contain the equitable distribution of marital property. Which means belongings and liabilities acquired throughout the marriage are divided pretty, although not essentially equally, between the events. For instance, a household dwelling bought after the marriage date is often thought-about marital property topic to division. Separate property, similar to inheritances acquired by one partner or belongings owned previous to the wedding, are typically excluded from this division.
A transparent understanding of property division in divorce is essential for people navigating this advanced authorized course of. Equitable distribution goals to supply a simply and honest end result for each events as they transition into separate monetary lives. The historic shift from common-law property guidelines, which frequently favored males, to the present equitable distribution mannequin displays societal progress in the direction of larger equity in divorce proceedings. This framework acknowledges the contributions of each spouses to the marital property, no matter whose title seems on titles or accounts.
