Jump to Navigation

The rules of marital property in Tennessee

As part of a divorce settlement, marital property may be split among the former spouses. How items are split may depend on state law and whether there is a prenuptial agreement in place. It is important to note that nonmarital assets may be considered marital assets if money is placed in a joint bank account or if the other spouse contributes to the upkeep of an asset or helps to improve it.

Therefore, it is critical that each spouse keep good records to verify that an asset is not marital property at the time of a divorce settlement. If an individual deposits marital income into a separate account, it may be viewed as commingling. This means that was once a separate asset may now be considered a marital asset because the marital income is a joint asset of the couple.

Even if a spouse does not take steps to pay for or maintain a nonmarital asset, some portion of it may still be considered marital property. This is true if the property appreciates in value during the marriage. The appreciation will generally be considered marital property that may be up for division at the end of a marriage. Businesses may also be considered at least partially marital in nature if it appreciates in value during the marriage.

Any property obtained during a marriage may be eligible for division in a divorce. This includes real estate holdings, retirement accounts and anything else that may have purchased with marital money. An attorney might be able to help individuals verify which assets are separate property and should not be part of the division process. Legal counsel may also review prenuptial agreements to possibly determine if they are valid.

No Comments

Leave a comment
Comment Information
Visit our Blog Contact Form

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

FindLaw Network Office Location

Stanley A. Kweller, Attorney at Law
214 Second Avenue North, Suite 103
Nashville, TN 37201

Nashville Law Office

Phone: 615-208-9691
TF: 866-568-5306
Contact the firm

Super Lawyers