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Property
Division
In
the United States there are three types of Property Division Jurisdictions
Title Jurisdictions.
In a title jurisdiction, marital property is divided on the basis of title.
Property
held by the husband only will become the husband's sole and separate property
after the issuance of the divorce decree.
Property held by the wife only, will become her sole and separate property
after the issuance of the divorce decree.
Property held jointly by the husband and wife will be divided equally
between the parties upon the issuance of a divorce decree.
Community Property Jurisdictions.
In a community property state, all marital property is divided equally
between the parties. For example, if the marital estate is $6 million,
each of the parties upon the issuance of a divorce decree will receive
$3 million.
Equitable
Distribution Jurisdictions - Pennsylvania.
Pennsylvania is an equitable distribution state. Under equitable distribution,
marital property is divided by the court in a fair and equitable manner.
Equitable distribution does not necessarily mean that each party will
receive 50% of the marital property. Exactly what does that mean?
What Equitable Distribution typically means is that the property will
be divided as the judge sees fit.
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