Factors Involved In Property Settlement Process
Nobody on their wedding day, while walking down the aisle, would think that one day they are going to have a divorce. Unfortunately, these things happen, and when they do, one of the things the former couple needs to undergo is a property settlement procedure. This article will show you all that. Divorce terminates the legal partnership between a man and a woman and at the same time divides the property they both owned as a couple. Property owned by either of the couple before the marriage usually remains to the possession of the original owner, but everything else the couple had acquired right after their wedding is divided among them. And while most people think that divorce and property settlements are the same process, they are separate processes. It is also important to understand that by the time a couple is divorced, they only have a year or 12 months from the date of the divorce to process their property settlement. In the family law, there are four steps that take p