When Property Becomes Mixed
When a couple in Nevada divorces, their property is divided according to state law. In some cases, commingled property can become an issue during the divorce proceedings. What is commingled property, and how does it become an issue during a divorce? In this blog post, we will discuss commingled property in Nevada divorces and how it becomes an issue during the division of assets.
Commingled property is defined as when commingling occurs. In the context of divorce, commingling usually refers to the mixing of marital and non-marital assets. This can happen in several ways, but some common examples include using joint funds to pay for separate debts or expenses, or transferring ownership of property from one spouse to the other.
There are a few different ways that commingling can occur:
When marital and non-marital assets are commingled together in a joint account. For example, if you and your spouse share a joint checking account and you use funds from that account to pay for your child’s private school tuition, then those funds have become commingled.
When one spouse uses marital funds to pay for a non-marital debt. For example, if you use joint credit cards to pay off your personal student loans, then those funds have become commingled.
When one spouse transfers ownership of property to the other spouse. For example, if you own a rental property and you transfer ownership of that property to your spouse, then the property has become commingled.
Why Does It Matter?
The reason commingling is important in divorce is because it can impact how property is divided in a divorce. In Nevada, all assets and debts that are acquired during the marriage are considered marital property and are subject to division in a divorce. This means that when commingling occurs, it can be difficult to determine which assets are marital and which are non-marital.
Work With an Attorney
If you are going through a divorce in Nevada, it is important to work with an experienced divorce attorney who can help you identify commingled property and determine how it should be divided in your divorce.
At Ford & Friedman, our team can help you work through even the most complex property division. We are committed to protecting your rights to what is yours.
Learn more about property division in Nevada or schedule a consultation by calling (702) 904-9898 or by visiting our website.