Property division can be one of the most difficult areas to settle during a divorce. There can be many reasons for these disputes, including the desire of both parties to remain at their primary residence and the possibility that the couple owned several different kinds of property. However, Minnesota law is very explicit about real estate property incorporated in a divorce, and courts insist that all types of real estate are listed in official divorce papers.
While completing divorce forms, splitting spouses must identify all types of real estate that they own as a couple. They must also identify all real estate that they own separately, as well as property that they own with other people such as friends or family members. All property must be identified and any attempt to hide property during a divorce can lead to problems later on.
All homes must be included in any property form. This can include any house that the couple owned together as well as condominiums, townhouses and vacation homes. They must also list any house or property that one spouse bought by themselves after the couple separated. Other kinds of real estate that must be listed include any timeshares that the couple had as well as any property that does not have any sort of structure on it.
Other types of real estate that must also be listed include investment properties and business property that was owned by one of the spouses. Any inherited property or remainder interest property must also be included. All ownership interest property must be listed as well.
However, any Minnesota resident who is unsure about the kinds of property that must be listed in these documents may want to speak to a family law attorney in order to get a clearer understanding of the kinds of property that must be included. An attorney may also be able to advise as to how to approach divorce settlement in a way that leads to a fair resolution.
Source: Minnesota Judicial Branch, "Divorce/Dissolution", accessed on Nov. 21, 2015