When you’re going through a divorce in Portland Oregon, and trying to divide your property, it’s recommended that you seek the help of a qualified attorney.
Even if you and your spouse agree on how to divide your property, it’s still recommended that you consult a lawyer. If you and your spouse can’t agree, then you’ll definitely want to hire an experienced attorney as you might be headed for court.
Oregon is an “equitable distribution” state. The division of property isn’t equal but “just and proper in all the circumstances.” Also, Oregon is a “no fault” state. The reason behind a divorce is not considered when dividing property.
After one party files for divorce, a financial restraining order is issued. This prevents either party from drastically changing their financial status.
This is followed by the discovery process in which monetary values are placed on non-liquid assets.
How does the court distribute property? The court makes a “rebuttable presumption” that both spouses have made equal contributions to all the property acquired during a marriage.
Obviously, the court will look at who earned the money used to purchase the property. They will also look at contributions made via ongoing maintenance and those made by a spouse working as a homemaker.
In order for the court to distribute property on an equitable basis, the spouse must disclose all known property. If a spouse doesn’t, they could face severe punishment from the courts.
A competent divorce attorney, like Portland Oregon’s Ronald Johnston, can guide you through the process of distributing property. To contact him, click here.