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In New York State, divorce laws regarding the division of property follow the principle of equitable distribution. This means that marital assets and debts acquired during the marriage are divided fairly but not necessarily equally. The court considers various factors such as the length of the marriage, each spouse's financial situation, and contributions to the marriage when determining the division of property. Separate property, including assets acquired before the marriage or through inheritance, is typically not subject to division. Understanding these laws is crucial for individuals navigating divorce proceedings in New York State, as they can significantly impact the distribution of assets and liabilities. Consulting with a knowledgeable attorney can provide clarity and guidance throughout the process.
New York State Divorce Laws Division of Property
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