Goble & Yow, PLLC
Our law Firm is less than 50 ft from the courthouse
Call now for a free consultation
931-266-4763

Marital property exceptions in Tennessee

Divorce is rarely easy, but some states do tend to make the process easier than others. Here in Tennessee, we enjoy fewer regulations than some other states, and are not a community property state, so couples have greater flexibility to decide between themselves how they divide their assets and liabilities in divorce.

Property division is one the most complicated and time-consuming aspects of most divorces, along with any child custody issues that may arise for divorcing parents. In very broad strokes, couples divorcing in Tennessee must reach an agreement about how to divide up all of the assets and liabilities that count as marital property between them. So, what exactly counts as marital property in the Volunteer State?

Generally speaking, assets or liabilities that either party acquires during the course of the marriage counts as marital property. However, there are some exceptions. Some of these include

  • Any property that one spouse acquires by trading property he or she owned prior to the marriage
  • Capital gains applied to property that either party owned prior to the marriage, such as a house
  • Property that either spouse received as a personal gift during the marriage, such as inheritance or birthday gifts
  • Monetary awards from a civil or criminal suit

If you have concerns about the status of certain property as you head into a divorce, be sure that you have all the legal counsel you need to protect your priorities and rights. Even if a particular piece of property does qualify as marital property, you may have more options than you realize to protect it.

Source: FindLaw, "Tennessee Marital Property Laws," accessed Oct. 20, 2017

No Comments

Leave a comment
Comment Information

Need Help? Contact Our Attorneys

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

office location

Goble & Yow, PLLC
215 Franklin Street
Clarksville, TN 37040

Phone: 931-266-4763
Fax: 931-906-5010
Map & Directions

Review Us