Marital Property Law and Legal Definition
Generally speaking, all property acquired during the course of the marriage or after the marriage irrespective of the fact that who owns it or who has the title, is considered as marital property. In other words, all property acquired by either spouse individually or together during a marriage is known as marital property. The time frame "during the marriage" starts as of the day the couple marries, and generally is regarded as ending on the date that the spouses begin to live apart. Marital property includes property such as houses, real estate, pensions, stocks, bonds, and household goods. Marital property does not include any property that was acquired by either spouse prior to the marriage. If the property is marital property, then the court should equitably divide such property. Marital property is also known as community property.