Carl Glendon

What Does Provision for Marital Property in Marital Agreement Include?

Once you get married, you might already be the owner of a property or have investments or cash savings. Your spouse might also have got married with investments and / or cash, property etc, which is a 'separate property' for you. The cash and property that you got from your spouse at the time of marriage would be regarded as 'marital property'. If you have no idea about marital property or separate property, know about what marital properties include.

Real property

This is the actual property that you and your husband / wife purchased at the time of marriage, other than any of your separate property contributions that you made to this type of property - such as paying a portion of or the entire down payment along with separate property funds.

Personal property

This involves the artwork, furniture, airplanes, boats, cars etc that the two of you might have purchased at the time of marriage.

Gifts

These include the presents that you gave to each other at the time of marriage. This could be a home, car, clothing, jewelries or other items that can be given to you from your spouse or his family.

Cash and securities

This type of property includes securities, cash, pensions, retirement accounts, bank accounts etc that you acquire at the time of marriage.

Advanced educational degrees

Such properties can also include advanced educational degrees as well as the permissions to indulge in specialized businesses that are obtained when you marry. Please visit this site to get a sample separation papers.

All these properties that are received at the time of marriage are known as "marital estate". You and your husband / wife can exclude some types of properties from this estate by entering into a postnuptial or prenuptial agreement. In the absence of such an agreement, it might be presumed that all the properties obtained during marriage might be regarded as a marital property.

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Carl writes often about legal drafting, rental lease agreement, marital separation agreement and help the people in such needs. You can find more about legal forms library news blog. Please visit this website for more info about NC legal separation.