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| | Is New York A Community Property State for Divorce (25th Feb 25 at 1:32pm UTC) | | No, New York is not a community property state for divorce. Instead, it follows the equitable distribution system when dividing marital assets and debts. This means that property is divided fairly but not necessarily equally.
In a divorce, the court distinguishes between marital property and separate property. Marital property includes assets and debts Is New York A Community Property State for Divorce acquired during the marriage, regardless of whose name is on them. This can include homes, bank accounts, retirement funds, and businesses. Separate property includes assets acquired before the marriage, inheritances, gifts from third parties, and personal injury settlements. Separate property generally remains with the original owner unless it was commingled with marital assets. | |
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