When spouses divorce in Virginia, the law requires an equitable distribution of marital property. Generally, all property will be defined as marital property or separate property. Marital property is property acquired during the marriage using marital funds; it belongs to both spouses and it must be divided equitably upon divorce. Separate property is property that either spouse acquired before the marriage, or received as a gift or inheritance during the marriage; it will typically be kept by the spouse who owns it. However, there is a third category: hybrid property, which is a combination of the two.<\/p>\n
Hybrid property can be created in a number of ways. For instance, one spouse may use money that she acquired before the marriage to pay the down payment on a house that the couple purchases during their marriage, and that then appreciates in value. In another example, one spouse may have an investment account that (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" When spouses divorce in Virginia, the law requires an equitable distribution of marital property. Generally, all property will be defined as marital property or separate property. Marital property is property acquired during the marriage using marital funds; it belongs to…<\/span><\/p>\n