While going through a divorce, you may have questions regarding property division. This can be a complicated matter, especially when things like a mortgage or a pension plan come into play.
We understand the property division laws in Minnesota and we have helped many of our clients with their divorce and property division cases.
Minnesota is an equitable distribution state
Any assets that you and your spouse obtain during your marriage falls under the marital property category. According to the Minnesota Legislature website, marital property is not necessarily divided equally. Instead, the courts take an approach known as an equitable distribution when awarding property. This means that you and your spouse are both responsible to each other for any profit or loss that results from the use of your marital assets.
In some cases, your nonmarital property can go to your spouse
Nonmarital property includes assets that you obtain before your marriage. There are certain circumstances for which the court will award your spouse a portion of your nonmarital property. This usually happens if your spouse will endure undue hardship as a result of the division of the marital property. In these cases, the courts may award as much as one-half of your nonmarital property to your spouse if they can prove that they will suffer from the division of the property.
In some cases, the court may decide that it is necessary to preserve certain marital assets. Depending on the circumstances, the court may order either party to sell their homestead. More information about this topic is available on our webpage.