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How is marital property divided in Tennessee?

In a divorce action in Tennessee, marital property is divided; separate property is not. Property division is the term used by courts and lawyers for describing this process. Property division requires that all property be identified, classified, and valued. Tennessee is an equitable distribution state.

What is considered marital property in the state of Tennessee?

In Tennessee, anything acquired during marriage by either partner, is considered marital property. This refers to more than just your paycheck, but also includes real property, businesses, investments, credit cards, loansessentially any kind of increase or decrease to your family unit.

Is Tennessee a spousal consent state?

Tennessee is not a community property state. If you are and your spouse are actually able to agree on who gets what, you may file a Marital Dissolution Agreement (PDF). However, you must agree on everything in the request; not have minor children; not be pregnant; along with other stipulations.

Does spouse have to be on deed in Tennessee?

Sole Ownership in Tennessee Tennessee does not recognize community property, homestead, or dower and curtesy. This means that spouses can buy, sell, or own property without the involvement of the non-owner spouse. The only exception to this is when using a deed of trust.

Which states are spousal States?

Spousal States: What it Means For Your VA Loan. If you are married and applying for a VA loan in Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington or Wisconsin, there is a surprise complication to the application process due to how marital property is held in these states.

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