Marital Property

Marital Property
A U.S. state-level legal distinction of a married individual's assets. Property acquired by either spouse during the course of a marriage is considered marital property. For example, an IRA in the name of an individual with a spouse that is accumulated during the course of the marriage would be considered marital property.

Also known as "community property".

This type of legal definition primarily exists to protect spousal rights. Generally, the spouse of the retirement account owner who resides in a community or marital property state must be the sole primary beneficiary of an investment account designated as marital property, unless the spouse provides written consent to have someone else designated as primary beneficiary of the retirement account.


Investment dictionary. . 2012.

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Look at other dictionaries:

  • marital property — see property Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. marital property n …   Law dictionary

  • property — prop·er·ty n pl ties [Anglo French propreté proprieté, from Latin proprietat proprietas, from proprius own, particular] 1: something (as an interest, money, or land) that is owned or possessed see also asset, estate, interest …   Law dictionary

  • marital agreement — n. An agreement or contract between a married couple or a couple about to get married, usually stating which partner owns what marital property. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney… …   Law dictionary

  • property settlement — n. The disposition of marital property between spouses after a divorce. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008. property settlement An agree …   Law dictionary

  • property law — Introduction       principles, policies, and rules by which disputes over property are to be resolved and by which property transactions may be structured. What distinguishes property law from other kinds of law is that property law deals with… …   Universalium

  • marital — /maeratal/maraytal/ Relating to, or connected with, the status of marriage; pertaining to a husband; incident to a husband @ marital agreements Contracts between parties who are either on the threshold of marriage or on the verge of separation,… …   Black's law dictionary

  • marital — /maeratal/maraytal/ Relating to, or connected with, the status of marriage; pertaining to a husband; incident to a husband @ marital agreements Contracts between parties who are either on the threshold of marriage or on the verge of separation,… …   Black's law dictionary

  • property settlement — Term as used in divorce parlance is used interchangeably in describing two different bases for division of marital property: (1) based upon agreement of the parties and approval by the court, and (2) based upon an award by the court after trial… …   Black's law dictionary

  • property — That which is peculiar or proper to any person; that which belongs exclusively to one. In the strict legal sense, an aggregate of rights which are guaranteed and protected by the government. Fulton Light, Heat & Power Co. v. State, 65 Misc.Rep.… …   Black's law dictionary

  • marital deduction — see deduction Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. marital deduction …   Law dictionary

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