In Ohio, the state’s equitable distribution rules mean your marital property will be divided fairly if you should ever divorce your spouse. Your separate property will be protected from property division in your divorce. However, the designation of property ownership is not necessarily set in stone.
A legal process known as transmutation may allow for separate property to become marital property, and marital property to become separate property. This exchange of ownership designation could potentially allow you to keep property you rely on in your divorce that you might have otherwise shared. Transmutation is made possible through written agreements between spouses, joint titles, gifting, and complex property that can be defined as both marital and separate.
For the majority of cases, family law courts in equitable distribution states like Ohio shy away from allowing marital property to become separate through transmutation. And not all Ohio jurisdictions recognize transmutation to turn separate property to marital property. Why would they want that to occur, though?
Transmutation may cause separate property to be classified as marital when separate property is transferred to ownership of both spouses. Lastly, transmutation might occur if marital property is improved by using separate funds.
COLUMBUS PROPERTY DIVISION ATTORNEYS – (614) 732-5566
Do you have questions about transmutation and how it might become a factor in your Ohio divorce? Weis Law Group is here to provide all the answers you need, as well as legal guidance and representation. We have a reputation throughout our communities for being able to provide compassionate and directed advocacy for clients in even the most complex or high stakes of divorces. Contact us at any time to arrange an initial consultation.