Summary of Division of Property in Ohio

In Ohio, courts generally encourage spouses to come to an agreement themselves regarding property division (often in the form of a “Marital Settlement Agreement”). If spouses cannot agree, the court will divide the property according to Ohio law.

Ohio is referred to an “equitable distribution state.” This means that Ohio courts will go through the following process in dividing property between the spouses: First, the court will consider the property and debts of each of the spouses and whether specific property and debt should be considered marital property or separate property. Second, the court will assign a value to the marital property and debt. Finally, the court will distribute the marital property (and debt) equitably.

It’s important to know what it means to divide property “equitably.” It does not necessarily mean equal or 50/50. Its meaning is closer to “just” and “reasonable.”

Marital property generally includes property acquired by the spouses during marriage. Inherited property is generally considered separate property. Other property that is generally considered to be separate property includes property owned before the marriage, passive income or appreciation acquired from separate property during the marriage, property acquired after a legal separation, property excluded by an prenuptial agreement, personal injury awards, and gifts given to only one spouse

In making a division of marital property and in determining whether to make the amount of any distributive award, courts may consider the following factors:

• • The duration of the marriage
• • The assets and liabilities of the spouses
• • The desirability of awarding the family home, or the right to reside in the family home for reasonable periods of time, to the spouse with custody of the children of the marriage
• • The liquidity of the property to be distributed
• • The economic desirability of retaining intact an asset or an interest in an asset
• • The tax consequences of the property division upon the respective awards to be made to each spouse
• • The costs of sale, if it is necessary that an asset be sold to effectuate an equitable distribution of property
• • Any division or disbursement of property made in a separation agreement that was voluntarily entered into by the spouses
• • Any other factor that the court expressly finds to be relevant and equitable.