When a couple that has been together for many years decides to break up, it may leave a number of issues unresolved. Among the most common issues is how property is divided. Many couples acquire property together, so knowing who gets what is an important part of the separation.
When couples cannot agree on these terms by themselves, they may have to turn to legal intervention from a system that was not designed to address the reality of unmarried couples. These courts treat these relationships as a business venture with different rules than a divorce.
Some individuals may choose to skip court and have their attorneys negotiate terms of a settlement. It is important to note that regardless of which route the couple takes, the only property that will be split is the property that they acquired during the relationship. Gifts and pre-relationship properties are usually left out of these negotiations and rulings.
Additionally, it is important to note that property may refer to material goods, finances, and land. Any of these items that are jointly owned may be divided in a settlement.
If you and your longtime partner are splitting from one another and have questions about how property will be divided, let experienced Memphis/Shelby Co, Tipton Co and Fayette Co breakup attorney Susan Mackenzie guide you through the process. Contact Mackenzie today for a consultation.