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Property Division Archives

How community property laws impacts residents

New Jersey residents may be interested to learn that any property that is acquired during a marriage is considered community property. Examples of community property may include any money that is earned by either party to the marriage or interest earned on money in a savings or brokerage account. A family home or anything purchased to furnish the home may also be considered community property. A court may also rule that property has become community property as it was commingled during the marriage.

Moving out and moving on after a divorce

When a New Jersey couple divorces, it may be difficult to decide what to do with the marital house. For some, it is easier to let the other person have the house and handle the mortgage regardless of their situation. However, it may be best for some couples to maintain the status quo if they are close to repaying the mortgage in full. Once the mortgage has been repaid, it may be easier to sell the house and split the proceeds.

Creative works of New Jersey artists are assets in a divorce

For artists in New Jersey, a divorce can mean that their artistic and literary works will be on the table when it is time to negotiate an equitable distribution of property. The value of copyrights and licensing agreements is also a consideration, and some divorce agreements grant the non-artist spouses a share of future income.