Montana Checklist of Matters to be Considered in Drafting an Agreement for Division or Restoration of Property in Connection with a Proceeding for Annulment of a Marriage
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How to fill out Checklist Of Matters To Be Considered In Drafting An Agreement For Division Or Restoration Of Property In Connection With A Proceeding For Annulment Of A Marriage?
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FAQ
Montana is an equitable division state, not a "community property" state. The difference is Montana courts weigh multiple legal factors to determine an equitable division of the marital estate versus the assumption that all property is community property regardless each spouse's contributions.
Montana is an equitable distribution state, meaning your community and separate assets will be divided as fairly as possible based on various factors such as each spouse's financial status, their contributions during the marriage and their needs for the future.
Factors Considered in Dividing Property It will look at the length of the marriage and the spouses' ages, health, occupation, and income. The court also considers the spouses' skills and employability, and any liabilities. Liabilities, or debts, must be divided at divorce.
In Montana, each spouse's separate property is subject to ?equitable division.? This basically means that a judge gets to decide how the property should be divided. There is a statute, MCA 40-4-202, and a court decision, In re Funk, that provide the factors a court considers when dividing up the property.
Both Marital and Separate Property Will be Divided Separate property is property you owned before marriage. It also includes certain property you receive during marriage, like a gift, an inheritance, or new property in exchange for the separate property you had before.
Montana is an equitable distribution state. This means the marital property will be divided fairly and equitably but it does not mean that property will be split on a 50/50 basis. Courts must first determine which property is separate and which property is a marital asset.