Classification Of Property

Phoenix Marital Property Attorneys

As part of a divorce decree, the marital property will be divided between the parties. As a community property state, Arizona will presume that all property will be divided equitably between the couple. However, the first question regarding property division is how to classify the property, i.e., is the property marital property?

Community property is any property (other than gifts or inheritance) that was acquired during the marriage. The concept seems simple, but it can become very complicated. For example, one partner owns a house going into a marriage, but still has a mortgage. The mortgage is paid off during the course of the marriage with community funds. The other partner may still have an interest in the property, although not an owner. You can see how there could be issues on how to divide the house between the parties.

Matters become more complicated if additions and improvements were made to the house. The most complex issues are where non-marital property is commingled (mixed) with marital property. That is why you should consult an experienced family law attorney for assistance in understanding the law and to ensure your interests are properly protected.

At DeShon Laraye Pullen PLC, our family law attorneys understand property distribution laws and the complexities of properly classifying property. Our lawyers are adept at working with financial analysts, accountants and other valuation experts, when necessary to ensure you receive a fair settlement. Our lawyers will advise you of your options and ascertain the best course of action to achieve your goals.

We recommend listing all your property and ranking it from most important to least important. We may be able to negotiate a property settlement that is fair and allows you to retain the marital property you value most. If we are unable to negotiate a favorable settlement, we are prepared to aggressively fight for your property interest in court.

For additional information about property distribution or to discuss your particular situation in confidence with one of our family law attorneys, please call us at 602-626-9552 or 800-409-0262, or you can fill out our intake form on our Contact page and one of our lawyers will contact you.