|
|
| ||
|
|
||
|
Indiana Law - What is The Overall Approach to Property Division? Indiana is an "equitable distribution" state. This means that the judge can do whatever he or she thinks is fair. For example, the judge can order that the home not be sold so a spouse and children may live there for a period of time. Or, the judge can order that the home (or other property) be sold and the cash divided between the parties. However, beside the child support guidelines, there are broad guidelines relating to the property division. The starting point is the premise that property acquired during the marriage will be divided 50/50, and that other property (called "separate property" will remain with the party who owns it. But this is subject to modification if, for any reason, the judge thinks another division would be more fair to the parties. Also, the judge is concerned that the total values be fair, not that each asset is divided according to whether it is separate or marital property. So, for example, the judge might order the husband to keep the home and pay the wife $80,000 in cash, even though the wife's parents might have put up the downpayment on the home and the wife's earnings might have paid the mortgage during the marriage. Section 31-1-11.5-11. Cases: Cox (1991) 580 NE2d 344 (minor deviations from 50/50 division are acceptable).
Disclaimer: We are not giving legal advice. No warranties. We disclaim all legal liability. More... | |||||||||||||||||||||||||
______________________________________________________________________________________________________
|
