Make Notes On Legal Tennessee Property Settlement Forms For Free

Very often, people have property of their own when they get married. This may include bank accounts, retirement accounts, real estate or vehicles. For the purposes of a divorce, such assets may be considered separate property. Thus, these assets remain theirs alone and are not subject to the property division process.

When it comes to property division during divorce, Tennessee is considered an equitable distribution state. Essentially, this means that marital property is divided fairly and reasonably, not necessarily 50-50.

In most cases, the marital home is considered marital property. This means that courts will have to decide who will get to keep the house if both parties cannot agree on what to do with the house (sell it and split the profits, give the house to one party in exchange for something else, etc.).

In Tennessee, anything acquired during marriage by either partner, is considered marital property. This refers to more than just your paycheck, but also includes real property, businesses, investments, credit cards, loans?essentially any kind of increase or decrease to your family unit.

Spouses in Tennessee Inheritance Laws For childless marriages, every piece of property that a decedent owned will be left to his or her spouse. But if the decedent had children with his or her spouse, with another person or both, the intestate estate is divided evenly among all parties.

For purposes of this subdivision (c)(5), dissipation of assets means wasteful expenditures which reduce the marital property available for equitable distributions and which are made for a purpose contrary to the marriage either before or after a complaint for divorce or legal separation has been filed.