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MIAMI A
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LSDefine
Simple English definitions for legal terms
individual property
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A quick definition of individual property:
Individual property refers to property that belongs to one person, either before they got married or as a gift or inheritance. In some states, it can also include property acquired after separation or divorce proceedings have begun. This is different from community property, which is owned jointly by both spouses. In some common-law states, individual property can also refer to property titled to one spouse or acquired by one spouse during marriage. If separate property is exchanged for something else during the marriage, the new property is also considered individual property.
A more thorough explanation:
Individual property refers to property that belongs to one spouse and is not considered part of the marital estate. This can include property that was owned before the marriage, inherited during the marriage, or received as a gift from a third party.
For example, if John owned a house before he got married to Jane, that house would be considered his individual property. If Jane inherited a sum of money from her grandmother, that money would also be considered her individual property.
Individual property is important in divorce proceedings because it is not subject to division between the spouses. In other words, if John and Jane were to get divorced, John would be able to keep his house and Jane would be able to keep her inheritance.