Peaceful Collaboration Is My Goal

Equitable Division of Property

On Behalf of | Jan 10, 2021 | Firm News

A question I am faced with frequently is “What can I expect to get from my
divorce if all the property is in my spouse’s name?” Many potential divorcees do
not understand the concept of equitable division of property. In Oregon, all
property acquired during the marriage is divided equitably between the parties.
This means that if the couple purchased a home after they married, the house, or
the equity in the house if it is not paid off, is divided fairly between the
parties. This also means that all debts acquired during the marriage are equally
divided.

This can look different in every situation. If keeping certain assets are not
important goals to you, we can explore other options regarding division of
assets and debts. New divorcees may decide that one party gets the entirety of
the property, but also the entirety of the debts. Some parties decide that one
party will keep the family home in exchange for a payment to the other party
to represent their share of the equity in the home. There are many options
regarding division of assets, but the important take-away is that the
“official” owner of the property, listed on the deed or title, is irrelevant
to marital property distribution, and you are entitled to an equal portion of
the marital property.