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Legal Terms – family Assets
Property acquired by one or both parties to a marriage for the benefit of the family as a whole. The marital residence, furniture, and automobile are among the most common examples. Although there is no specific body of law that addresses family assets, the courts have the authority to issue orders regarding these assets upon the dissolution of a marriage and have established adaptable guidelines that are applicable to family assets.
Property acquired by one or both parties to a marriage for the benefit of the family as a whole. The marital residence, furniture, and automobile are among the most common examples. Although there is no specific body of law that addresses family assets, the courts have the authority to issue orders regarding these assets upon the dissolution of a marriage and have established adaptable guidelines that are applicable to family assets.
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