Property Division in Divorce
According to Michigan law, the court has the power to award to either party the real and personal estate that the party acquired during the marriage, or the value of that interest in money. As a general rule, the court will start at a 50/50 split and then consider the need to deviate from there. Although many factors can contribute to a need to adjust the property division, if both parties contributed to the acquisition, improvement, or accumulation of the property, the courts will usually order a 50/50 split.
The Michigan Supreme Court identified nine factors to be considered when evaluating property division:
- Duration of the marriage.
- Contributions of the parties to the marital estate.
- Age of the parties.
- Health of the parties.
- Life status of the parties.
- Necessities and circumstances of the parties.
- Earning abilities of the parties.
- Past relations and conduct of the parties.
- General principles of equity.