Understanding Separate Property

Anything that you’ve owned before your marriage or registered domestic partnership is considered separate property. Also any gifts, inheritances that are given to one spouses or any rents/profits that you make on any of your separate property are also considered separate property.

Anything you purchase with your separate property is also separate property even if it was obtained while you were married. For example, if you purchase a building with an inheritance that was left to you and only you, that building and any profits you make from that building is yours alone. Separate property also refers to any earnings you make after your date of separation which is why the date of your separation is so very important.

Tags: ,

No comments yet.

Leave a Reply

Name (required)

Email (will not be published) (required)

Website