Property Division For Unmarried Couples In Pennsylvania
Property division cases are not simply reserved for couples going through a divorce. Whether you bought property with a friend or relative or you and your partner simply chose to live out your relationship without getting married and now are facing an acrimonious split, there are options for dividing the property of unmarried people in Pennsylvania.
Dividing Jointly Owned Property
The best way to approach a property division issue between people who are not married and therefore do not have the rules and regulations associated with property division after marriage is by filing a partition action. A partition action is essentially equivalent to the equitable distribution procedure in a divorce matter. The calculation of the partition itself, however, is a little more complicated.
Calculating the worth and distribution of your assets is based upon a special form of accounting. Of special consideration is an assessment of what each party has brought to the purchase of the property and this assessment is taken into account when the property is subsequently divided.
This is a relatively complex topic, which cannot be easily addressed in a few words. It is important that counsel is sought early on before unmarried people acquire real estate and other property because there are significant hurdles in the probate code relative to those assets.