The Pennsylvania Divorce Code provides for Equitable Distribution of Marital Property. What does this mean?
Marital Property is a property interest acquired between the date of marriage and final separation of husband and wife. Property is marital regardless of whether it is held in joint or individual names if acquired during this time period, unless it was acquired in exchange for pre-marital, gift or inherited property (non-marital or separate property). Increase in value of non-marital property accruing during the marriage through final separation is, itself, also marital property.
Equitable Distribution is the property division between husband and wife upon divorce. Unlike community property, the division of marital property may or may not be equal and is based on equitable principles; in one case, property division may be 50-50 between the spouses, while in another it could be 45-55 or most any other division found to be fair by the Court.
