Divorce is always a tricky matter in Oklahoma, and it can be even trickier when property needs to be divided.
Divorce in Oklahoma
Oklahoma allows for both no-fault and fault-based divorce. Most divorces in the state are no-fault divorces since these are easier to complete. A fault-based divorce can be sought, however, by proving the other spouse was cruel, abusive, unfaithful, etc.
Property division
Oklahoma uses equitable distribution standard for property division. This is different from equal distribution, or 50/50 distribution. Instead of assets being divided equally in a mathematical way, they will instead be divided in a way that the court sees as fair based on the circumstances. Factors that come into play include things like the:
- length of the marriage
- age of each spouse
- earning potential of each spouse
- financial contributions of each spouse during marriage
- health of each spouse
- financial needs of each spouse
All of this, as well as other possible factors, will be weighed in how assets are split up between each spouse.
The need for an appraisal
To decide how the property should be divided, it will also need to be appraised so that its value can be determined professionally. An appraiser will determine the fair market value of things like a house or car. In the case of a house, the amount left on the mortgage will be subtracted from the appraised value to determine its actual value and how it should be divided.
The divorce process will take some time to move through. Things like property division can be complicated, but having a solid understanding of what to expect can make the process easier.