Division of Property in MN Divorce

In Minnesota there are two basic types of property that exist during a divorce, marital and non-marital. Marital property is all property acquired during the marriage. Non-Marital property is property acquired before, during or after the marriage that consists of a gift, or inheritance to the husband or wife separately, was acquired before the marriage, was acquired after the valuation date during the divorce, and/or is excluded by a valid prenuptial agreement. During a divorce there is a presumption that all property acquired by either spouse is marital property. The burden falls on the spouse claiming a non-marital interest to prove up the claim.

Both marital and non-marital property can include property such as houses, land, lake cabins, closely held corporations, public corporations pensions, retirement plans, stocks, automobiles.

One of the most difficult issues is placing value on the property. The value for some property can easily be obtained. Other property such as real property or closely held business can require an expert’s opinion during a divorce.

During a divorce Minnesota courts have the power to make just and equitable division of the property. Equitable division does not necessarily mean equal. Courts are free to apply statutory factors and consider the needs of each spouse when considering a property award.