Law...

What is "Separate Property?"

In most states, separate property is any of the following:

• Property a party owned before the marriage. Click here for discussion about homes and here for discussion of financial accounts as separate property.
• Property a party acquired during the marriage by gift or inheritance. (A gift would be, for example, money given by a spouse's parent explicitly to that spouse and placed in that spouse's separate bank account.)
• Income from either of these.
• Property acquired with separate property funds during the marriage and labeled explicitly as separate property.
• Earnings, gains, or winnings earned or received after the separation date.

Courts in community property states tend to be more consistent in their decisions to leave separate property with the party who owns it. In equitable distribution states, there tends to be some degree of leeway in the judge's decisions.

Note: You and your spouse are always free to ignore the legalistic distinction between "separate" and "marital" property, and make any division of property you like -- as long as you can agree and it is reasonably fair to both of you.

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