In New York, marital property refers to assets acquired by either spouse during the marriage, regardless of who holds the title. This includes income, real estate, retirement benefits, and personal property. New York follows the principle of "equitable distribution," meaning that New York Divorce Law Marital Property is divided fairly but not necessarily equally during a divorce. Courts consider factors such as the duration of the marriage, each spouse's contributions (financial and non-financial), and future financial needs when determining how to divide assets. Separate property, such as inheritances, gifts, and assets owned prior to marriage, typically remains with the original owner.
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