How is marital property divided in Colorado?
Generally, “marital property” is property acquired by either spouse after the marriage. In Colorado, marital property is divided without regard to marital misconduct or fault. The Court divides property as it deems equitable or fair, which does not necessarily mean the property is divided equally.
Is Ga an equitable distribution state?
During divorce in Georgia, separate property is typically retained its original owner. Marital property, on the other hand, is subject to division according to the principle of equitable distribution. This means that the property is divided between the spouses according to what is “equitable,” or fair.
What does it mean to be an equitable distribution state?
Equitable distribution is a legal theory whereby marital property is distributed equitably in a divorce proceeding. Property assets are classified as either separate property or marital property. Most US states follow the equitable distribution theory.
Is Colorado a marital state?
Colorado is a marital property state, not “community property”. That means that the assets and debts acquired during marriage (i.e. the marital estate) should be divided equitably between the spouses upon dissolution of marriage, legal separation or annulment.