New York Divorce Law treats marital property as assets and debts acquired during the marriage by either spouse. It follows the principle of “equitable distribution,” meaning the court divides marital property fairly but not necessarily equally. This can include real estate, bank accounts, retirement funds, and even business interests. Separate New York Divorce Law Marital Property, such as assets owned before marriage, inheritances, or gifts received by one spouse, is generally not subject to division. The court considers factors like the length of the marriage, each spouse’s financial situation, and contributions to the marriage when determining the division of marital property.
