- Equitable division of property is an allocation of assets acquired during the marriage to the parties based on their respective equitable interest in those assets. See Boyd v. Boyd, 191 Ga.App. 718, 382 S.E.2d 730 (1989); Anderson v. Anderson, 274 Ga. 224(3), 552 S.E.2d 801 (2001).
- Equitable division does not mean that it is equal but that it is fair.
- In some cases, a party may be required to sell or encumber property.
- Generally, only the real and personal property and assets acquired by the parties during the marriage are subject to equitable property division. See Moore v. Moore, 249 Ga. 27(2), 287 S.E.2d 185 (1982); Payson v. Payson, 274 Ga. 231(1)(a), 552 S.E.2d 839 (2001).
- Determining whether a property is marital or non-marital property is a question for the trier of fact. Not all assets acquired during the marriage equates to marital property.
- If property acquired during the marriage by gift, inheritance, bequest, or devise, it remains the separate property of the party. See Armour v. Holcombe, 288 Ga. 50 (1), 701 S.E.2d 169 (2010).
- If acquired during the marriage, unvested and vested retirement benefits are marital property and subject to equitable division. See Courtney v. Courtney, 256 Ga. 97(2), 344 S.E.2d 421 (1986).