Remember when I asked whether you can get the return of your engagement ring if the marriage falls through in Virginia? Well, it’s no longer a crapshoot. You can get the return of the engagement ring or its value. Continue reading
Category Archives: Property Division
Virginia Equitable Distribution: Courts Aren’t Stupid
Assume an agreement states: “The parties shall apply any and all remaining proceeds from the sale of the Dey Street [P]roperties toward the principal balance of the mortgage obligations on Shady Oaks . . . If the mortgages are satisfied prior to the sell [sic] of Shady Oaks, the parties will divide equally any and all proceeds from the sale of Dey Street [P]roperties.” Assume that Shady Oaks properties were sold to pay off their mortgages. Assume that the Dey Street Properties are sold thereafter. What should happen to the Dey Street proceeds? Continue reading
Virginia Military Pensions: Be Sure to Ask Questions
In Epps v. Epps, Record No. 1077-14-1 (Va. Ct. Appeals 2015), the appellate court described how our circuit courts go about dividing up marital property:
“First, upon a request of either of the parties, the circuit court “must classify the property as either separate or marital. The court must then assign a value to the property based upon evidence presented by both parties. Finally, the court distributes the property to the parties, taking into consideration the factors presented in Code § 20-107.3(E).”
Virginia Equitable Distribution: The Strange Burden of Giving
John Smith buys a house before he gets married to Jane Doe. John then gets married to Jane. He wants his to become theirs. She wants hers to become theirs. So they open joint bank accounts. They consolidate their finances. And he deeds the house into their joint names. But their love dwindles. They separate. And they file for divorce. So what happens to the house? Does John get to keep all of the equity in in the property because he owned it before the marriage? Or does Jane get an equitable share in the equity because she clearly owns the property, too? Continue reading
Virginia Engagements: Return of the Engagement Ring Case!
Can you get the return of your engagement ring if the marriage falls through in Virginia? Unfortunately, there is no consensus answer in Virginia. Continue reading
Virginia Divorces: The Need for Specificity in Settlement Agreements
Quinn v. Irons, Record No. 0851-14-4 (Va. Ct. Appeals 2014) is a case that never should have existed but for a perfect storm of misunderstanding. In that case, the parties entered into a marital settlement agreement, while represented by legal counsel, at the end of an arbitration. The marital settlement agreement included a section entitled “College Savings Accounts,” which provided: Continue reading
Virginia Equitable Distribution: Apportioning Debt Discharged in Bankruptcy
Let’s assume that we have a married couple. They jointly own a home and are jointly liable on all debts encumbering it, including the mortgage and home equity line of credit. They are individually and jointly liable on various other debts, including some notable credit card debt. The parties then separate in anticipation of their inevitable divorce. Wife files for divorce. Husband files for bankruptcy. Wife does not file for bankruptcy. Wife’s equitable distribution case is stayed by the trial court until after Husband has his debts discharged pursuant to his bankruptcy filing, including his obligations to the lender of the mortgage and home equity lines of credit encumbering the marital residence. Wife therefore becomes solely liable to the lender for the mortgage and home equity lines of credit. Wife, at their divorce trial, argues that the mortgage and home equity lines of credit are marital debts that the court must apportion between her and Husband. Husband argues that he can’t be held liable on these debts to Wife because his liability was discharged pursuant to his bankruptcy filing and he is entitled to the fresh start that federal bankruptcy law intends to provide debtors like him. So must the trial court apportion the mortgage and home equity line of credit debt between these parties per Va. Code § 20-107.3(E) or does federal bankruptcy law’s fresh start preempt the state trial court’s legislative mandate? Continue reading
Virginia Equitable Distribution: Millionaires, Marital Waste and Spousal Support
Can one spouse pay temporary spousal support by making withdrawals from marital accounts? Can one spouse pay for his attorney’s fees by making withdrawals from marital accounts? Can one spouse pay for his mortgage payments and household expenses from marital funds while the divorce case is pending? Wouldn’t it be unfair for the payor spouse to continue to deposit his work income into his own separate account for his sole benefit moving forward while paying for his various obligations by withdrawing funds from marital accounts that otherwise would be available to the payee spouse at the divorce trial? Continue reading
Virginia Equitable Distribution: Negative Nonmonetary Contributions Illustrated . . . or Why You Should Be Nice to Heather
Can you get a bigger portion of the marital property in a divorce case in Virginia if your spouse has been a jerk throughout the marriage? Continue reading
Virginia Equitable Distribution: Loose Lips and the Meaning of Marital Debt
The Richmond Circuit Court was recently faced with dividing up a marital home per a divorce in Massicot v. Massicot, CL12-539. The court was tasked with determining whether the marital home was marital property or separate property and whether the mortgage debt was marital debt or separate debt. The court held as follows: Continue reading