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Marital property
Marital property is the property and debt that a husband and wife acquire during marriage for the benefit of the marriage and may include property acquired when the couple lived together before marriage. A married person may also have separate property, which is property and debt from before the marriage that is not considered marital property, or an inheritance or gift. Generally, property and debt acquired after the date of separation is not marital, unless a marital resource was used to acquire it. Determining whether a piece of property or a particular debt is marital or separate can be very complicated and requires legal advice. See AS 25. 24. 160.
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- Part of Speech: noun
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- Industry/Domain: Legal services
- Category: Family law
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