Legal Question in Family Law in Virginia
Marital Assets ?
Two part questions 1) Is a husband and a wife have been living apart for 10+ years (no legal sep or div) and they each have a house w/ individual names listed (husband in VA; wife in NC) are both houses considered marital property. 2) If yes, , can husband gift 1/2 his house to anyone he chooses ? Husband has POA (declared incompetent by dr) Thank you !!
1 Answer from Attorneys
Re: Marital Assets ?
It would likely depend upon when the properties were acquired and the circumstance under which
these acquisitions occurred. (If during the marriage with marital funds, then, yes, they are likely both marital properties, and cannot be gifted away to third parties. If individually acquired prior to the marriage, then they're probably soley owned by each.)
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