What are the Laws in Virginia about How Marital Property Will be Distributed After Divorce?
A Virginia court may divide marital property equitably considering: the contributions, monetary and nonmonetary, of each party to the well-being of the family; the contributions, monetary and nonmonetary, of each party in the acquisition and care and maintenance of such marital property of the parties; the duration of the marriage; the ages and physical and mental condition of the parties; the circumstances and factors which contributed to the dissolution of the marriage; how and when specific items of such marital property were acquired; the debts and liabilities of each spouse, the basis for such debts and liabilities, and the property which may serve as security for such debts and liabilities; the liquid or nonliquid character of all marital property; the tax consequences to each party; the use or expenditure of marital property by either of the parties for a nonmarital separate purpose or the dissipation of such funds, when such was done in anticipation of divorce or separation or after the last separation of the parties; and such other factors as the court deems necessary or appropriate to consider in order to arrive at a fair and equitable monetary award. (Code of Virginia Title 20 Domestic Relations Chapter 6 Divorce Affirmation and Annulment Section 107.3)
The information on this page is meant to provide a general overview of the law. The laws in your state and/or city may deviate significantly from those described here. If you have specific questions related to your situation you should speak with a local attorney.
Additional Divorce Articles
- Virginia Divorce Laws - What You Need to Know!
- What are the Residency and Filing Requirements for Divorce in Virginia?
- What are Grounds for Divorce in Virginia?
- What Documents and Supporting Information are Required to be Submitted with a Divorce Petition in Virginia?
- When is Spousal Support or Alimony Awarded in Virginia?