Is your property community (marital) or separate? This is what we mean by property characterization. By “property” we mean any type of asset. In your divorce, you can determine and agree upon your own property characterization and division, perhaps with the assistance of a divorce mediator. When a judge characterizes property in a divorce, the time of acquisition of the property is often critical.
There are two key dates. These mark the beginning and the end of the marriage for the purpose of characterizing your property. They are the date of marriage and the date of separation.
The law here is fairly complex. Here are some legal basics that may be helpful. They relate to how time of acquisition generally affects how a judge characterizes an item of property in a divorce. Continue Reading