The law in Minnesota recognizes two types of property related to a marriage dissolution: marital and nonmarital. All property acquired by either spouse subsequent to the marriage and before the valuation date is presumed to be marital property, regardless of whether it is jointly held by the spouses or held individually. The presumption of marital property is overcome by a showing that the property is considered nonmarital. Nonmarital property is not subject to division in the divorce.
Under Minnesota law, nonmarital property is defined as property real or personal, acquired by either spouse before, during, or after the existence of their marriage, which
(a) is acquired as a gift, bequest, devise or inheritance made by a third party to one but not to the other spouse;
(b) is acquired before the marriage;
(c) is acquired in exchange for or is the increase in value of property which is described in clauses (a), (b), (d), and (e);
(d) is acquired by a spouse after the valuation date; or
(e) is excluded by a valid antenuptial contract.
Determining whether property is nonmarital is a complicated process and often requires the expertise of an attorney.
If you are contemplating divorce and want to know whether your property might be characterized as nonmarital, our experienced attorneys at Howard Family Law, LLC would be happy to discuss through either in-person or telephone consultation. Please call our office to schedule a free 30-minute consultation (952) 224-9410.
