Divorce petitions in Virginia must be filed with the Circuit Court (Code of Virginia, Title 20 Domestic Relations, Chapter 6, Affirmation and annulment of Divorce, Section 96). An application for divorce may be filed if either party has lived in Virginia, in good faith, at least six months before to request a divorce. (Code of Virginia, Title 20, Chapter 6 Domestic Relations Affirmation and Annulment of Divorce Section 97).
First of all, what to call property?
The property is a house, furniture (including carpets and lamps), home appliances, works of art, vehicles (such as a car, a bicycle or a boat), money (on a bank account), shares, bonds and other securities, pension and pension accounts, a company (which one or both spouses own personally or in partnership), etc. Value, also, represent some intangible objects, an example of which is a patent for an invention or your fame in a society that can be used for commercial purposes. Usually, the most significant part of the property is real estate: land and buildings on it. If you own a house, then your home is real estate, and everything that is separable from immovable property refers to personal property. For example, furniture in the house is personal property.
What determines the way of distribution of property of former spouses?
In most states, a fair distribution system has been adopted, according to which the property acquired by the spouses during the marriage is the joint property of both. The concept of justice, however, does not necessarily imply the division exactly in half. It is rather based on accounting for all aspects of marriage – such as its duration, age and health status of spouses, their ability to materially secure their future, their responsibility to underage children, etc. The court will take into account these circumstances, deciding on the division of property in the divorce. As for the division of property acquired during the marriage, strictly in half, then this system is adopted in nine states.
How is the property that the spouses owned before marriage?
Regardless of the system adopted in the state for the separation of marital property, premarital property remains in the separate possession of the spouses and cannot be divorced in the event of a divorce. Also, in the possession of each spouse, personal gifts and inheritances received during the marriage period can be preserved if they are taken care of their separate contents. For example, if you inherited 10 thousand dollars and put them on a separate personal account, then this money belongs only to you. On the other hand, if you put this amount on a common marital account, then, in all likelihood, it will be divided into divorce as joint property.
How can be with the section of some intangible values – such as the professional degree of one of the spouses?
Not all states include a professional degree or a license to property subject to division. This is because the value of the degree and license is almost impossible to establish in accuracy: firstly, there is no market for the free sale of such intangible goods, and secondly, it is impossible to foresee in any way the future income of a spouse with a professional degree. However, in some states, in a situation where one of the spouses financially supported the other while he was studying (for example, a doctor or a lawyer), he can claim reimbursement of expenses that provided a professional future to another spouse.
How is the property divided?
Usually, the conditions for the division of property are recorded in an agreement concluded upon registration of a separate residence or divorce. This agreement can be compiled by the spouses themselves, but it is much more reliable to seek assistance from a lawyer who will check whether all the essential details have been taken into account and will ensure that you achieve the greatest possible share of the dividend. This agreement can then be approved in court can then be approved in court.