Navigate:

In a property settlement can a couple swap assets to come to an equitable distribution?

Not only can they do it, they do it all the time. And with good reason because many times, swapping assets saves both people the expense of coming up with money as part of a property division and distribution.

For example, a couple jointly own a home and a business and both of these assets are roughly equal. The husband offers his wife his interest in the marital home, in return for her giving him her half of the marital business
(When one spouse cashes out his or her interest in a family business during a divorce, care must be taken so that the transaction is considered a transfer of property between spouses, or former spouses and therefore incident to divorce and tax free.)

This is a common enough arrangement. Often the assets offset each other to the extent of having no significant tax consequences.