Georgia Property Division Factors
In Georgia, the property and debt issues are typically settled between the parties by a signed Marital Settlement Agreement or the property award is actually order and decreed by the Superior Court within the Decree of Divorce.
Georgia is referred to as an "equitable distribution" state. When the parties are unable to reach a settlement, the Superior Court will take the following approach to dividing the assets; First, it will go through a discovery process to classify which property and debt is to be considered marital. Next, it will assign a monetary value on the marital property and debt. Last, it will distribute the marital assets between the two parties in an equitable fashion. Equitable does not mean equal, but rather what is deemed by the Superior Court to be fair.
There are no factors listed in the statutes regarding what is considered by the court when distributing the property upon divorce.
The verdict of the jury disposing of the property in a divorce case shall be carried into effect by the court by entering such judgment or decree or taking such other steps as are usual in the exercise of the courtīs equitable powers to execute effectually and fully the jury’s verdict. (Georgia Code - Sections: 19-5-13)
Since Georgia is an "Equitable Distribution" state, all marital property will be divided in an equitable fashion according to the court unless agreed to otherwise by the divorcing spouses. What does "equitable" mean? Equitable can be defined as "what is fair, not necessarily equal." To automatically believe the marital property would be divided 50-50 would be a wrong assumption in any equitable distribution state. You can also read more about Georgia property division in the Georgia state statutes located at: http://www.legis.state.ga.us.
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