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Separate Property

Definition - What does Separate Property mean?

Separate property is a designation that is used in some jurisdictions that allow for the division of assets. It means that only assets that are bought during the course of a marriage will be split equally during a divorce. Property and assets that are acquired before the marriage or through other means are not connected to the marriage. One example is an inheritance.

Justipedia explains Separate Property

Separate property does not exist in all jurisdictions. It can also usually be designated in a pre-nuptial agreement. In certain jurisdictions, virtually any object that a person owns at the time they enter into a marriage remains their sole property and is not jointly owned by the spouse.

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