In New York State, Divorce Laws Marital Property govern the division of assets acquired during the marriage. This includes real estate, financial assets, and personal property. New York follows the principle of equitable distribution, meaning that marital property is divided fairly, though not necessarily equally. The court considers factors such as each spouse's contributions to the marriage, their financial circumstances, and any agreements in place. Marital property does not include separate property, which is typically assets owned before the marriage or acquired through inheritance or gift. Understanding these laws is crucial for individuals going through a divorce in New York.
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