Legal FAQs "Non-marital" property is an asset or debt acquired before a marriage and is not included in the division of property, except in very unique circumstances. Inheritances, stocks, family gifts or heirlooms, wedding presents, and trust accounts, are typical examples of this type of property. Since non-marital property is not subject to equitable division between the parties, the non-marital property goes back to that spouse who originally owned it, without any compensation to the other spouse.
Marital" property is an asset or debt that is acquired during the marriage. The fact that an asset or debt is in one spouse’s name does not been that the asset belongs exclusively to that spouse. Thus, if you live in a home, acquired during the marriage, but the home is in your spouse’s name only, your home is still going to be classified as "marital" property. Of course, generally speaking, an asset or debt like a car/truck or credit card that is only in your name generally will go you (good or bad) in the divorce."Joint" debt is where you and your spouse have debts in both of your names, such as credit card bills, a car/truck loan, or mortgage. This type of debt will have to be split, usually based on how assets are being split and/or the parties’ respective income.
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