What If My House Or Car Is Titled In My Spouse’s Name?
Many people are told that because an asset is titled in only one spouse’s name that it belongs exclusively to them. This statement usually comes from the other spouse-and they are usually very wrong. As a general rule, it does not matter who holds title to a piece of property. Rather, the nature of the property acquisition is what matters. Property purchased or paid for during a marriage will have a marital component subject to division (usually 50/50) among the parties. The exception to this rule involves non-marital property. Non-marital property is property that is acquired by one spouse, alone, as a gift or inheritance, during the marriage, or property they brought into the marriage.
Always A Free Consultation
Have additional questions? Contact Yancy Belcher a divorce and family law attorney located in Mt. Juliet and serving clients in Mt. Juliet and Hermitage, Tennessee. We offer free consultations to all potential clients. Call (615) 773-2889, or complete our free case evaluation form.