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TOPIC: Marital Property Law
#168
Marital Property Law 8 Years, 5 Months ago Karma: 0  
Marital property is defined in T.C.A. 36-4-121(b)(1)(A) which reads in pertinent part as
follows:
“Marital Property” means all real and personal property, both tangible
and intangible, acquired by either or both spouses during the course
of the marriage up to the date of the final divorce hearing and owned
by either or both spouses as of the date of filing of a complaint for
divorce, except in the case of fraudulent conveyance in anticipation
of filing, and including any property to which a right was acquired up
to the date of the final divorce hearing, and valued as of a date as near
as reasonably possible to the final divorce hearing date.
. . .
Marital property is further defined at T.C.A. 36-4-121(b)(1)(b) as follows:
“Marital Property” includes income from, and any increase in value
during the marriage of, property determined to be separate property
in accordance with subdivision (b)(2) if each party substantially
contributed to its preservation and appreciation, and the value of
vested and unvested pension, vested and unvested stock option rights,
retirement or other fringe benefit rights relating to employment that
accrued during the period of the marriage.

Separate property is defined at T.C.A. 36-4-121(b)(2) in pertinent part as follows:
(A) All real and personal property owned by a spouse before
marriage; (b) Property acquired in exchange for property acquired
before the marriage; (C) Income from and appreciation of property
owned by a spouse before marriage except when characterized as
marital property under subdivision (b)(1); (D) Property acquired by
a spouse at any time by gift, bequest, devise, or descent;

If you have a question about this topic, or any other topic of law, contact the law office of Andrew E. Farmer for a free consultation at (865) 428-6737. We serve clients from several states and throughout East Tennessee cities like Knoxville, Maryville, Morristown, Pigeon Forge, Jefferson City, and Johnson City just to name a few. Call today for a free consultation.
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M. Todd Patterson (Admin)
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Last Edit: 2009/08/20 22:26 By M. Todd Patterson.
 
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