Mississippi Divorce Lawyer’s Guide to Real Estate Division: Strategies, Claims, and Fair Compensation
Understanding Equitable Distribution in Mississippi 🔍 Mississippi follows equitable distribution laws, meaning marital property is divided fairly but not necessarily equally. Courts consider factors such as the length of the marriage, each spouse’s financial and non-financial contributions, and future earning potential. đź’ˇ Key Considerations: - Marital vs. Separate Property: Assets acquired during the marriage are generally considered marital property, while those owned before marriage or received as gifts/inheritance remain separate. - Property Classification Disputes: If separate property was commingled with marital assets, the court may classify it as marital and subject to division. Determining Property Ownership and Value đź“ś Gathering Evidence of Ownership: - Property deeds, bank statements, mortgage documents, and tax records establish ownership. - For disputed assets, courts examine documentation proving how and when they were acquired. đź’° Valuation of Assets: - Real estate app...