What is difference between separate property and marital property?

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In making its division of property, the trial court must first classify the property as either separate or marital property, pursuant to Tenn. Code Ann. § 36-4-121(b). Kinard v. Kinard, 986 S.W.2d 220, 230 (Tenn. Ct. App. 1998). This distinction is important because Tenn. Code Ann. § 36-4-121(a) provides for the distribution of marital property only. The character of whether the asset or debt is separate or marital is crucial in the proper equitable division of the same.  Separate property or … [Read more...]

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