How is property divided in a divorce?
Utah law requires that the court make an equitable division of marital property, including real property (real estate), personal property, retirement accounts, and pension benefits. Equitable means fair. However, an equitable division will not necessarily be a 50/50 split of property. Deciding what is a fair distribution of property requires the court to consider several factors, including the length of the marriage, the age, health, and earning capacity of the parties. For long-term marriages, the court may decide that it is fair to give one party more or less than 50% of the property. For short-term marriages, the court may put the people back into the economic position they were in before the marriage. In other words, he gets what was his at the beginning of the marriage, and she gets what was hers. If the parties to a divorce or annulment agree about how to divide their property, the court must still review the agreement to confirm that it is fair.
Call Fair Price Lawyers today at (801) 999-0104 for a consultation with a Utah family law attorney.