Summary of Division of Property in Tennessee

Tennessee is referred to as an equitable distribution state. This means that a certain type of property, "marital property", will be distributed "equitably" among the spouses in a divorce.

“Marital property” under section 36-4-121-B-1 of the Tennessee Code, is explained as real and personal property, both tangible and intangible, acquired by either or both spouses during the course of the marriage up to the date of the final divorce hearing and owned by either or both spouses as of on the date of filing of a complaint for divorce.

“Separate property” under section 36-4-121-2 of the Code, is explained as all real and personal property acquired before marriage, by way of exchange of property acquired before marriage, by way of gift, devise, descent or inheritance, compensatory awards, money received to meet future expenses for medical reasons or loss in wages, property awarded or divided in the legal separation matter.

There are 11 factors that the court will consider to determine the division of marital property. These include:

• (1) Length of marriage
• (2) Age, health, vocational skills, earning capacity, employability, estate, financial liabilities and financial needs of each spouse
• (3) Contribution by one party to the education, training, or increased earning potential of the other party
• (4) Opportunity of each party to acquire future assets and income
• (5) Contribution of each party towards acquiring of marital or separate property, this also includes contribution made by a spouse as a homemakers, wage earner or parent in the marriage
• (6) Value of separate property owned by each spouse
• (7) Estates held by each party at the time of marriage
• (8) Estimate the condition of each party that will be in terms of economics after the marital property is divided.
• (9) Tax consequences to be faced by each party
• (10) Amount of social security benefits available with each spouse
• (11) Other miscellaneous factors