Ed Shaw Law - No Nonsense Legal Advice
Call 800-507-0352 To Schedule A Consultation
Call
To Schedule A Consultation
Offices in St. Cloud and Brainerd, serving all surrounding areas
Coronavirus Impact and Assurance: Yes! We are still open for business!

As you are all aware, we are currently facing unique challenges due to the Coronavirus. While this is a serious crisis, it is important to keep it in perspective, and not allow it to prevent us from going about our business. We want to assure all of our clients that this office is prepared to serve your needs, regardless of what happens and how the virus affects Minnesota. In an effort to keep the office safe, we have stepped up prevention and sanitation measures in hopes to prevent disease transmission.

Because we are a paperless office, our entire staff is prepared to work from home if necessary. No matter what happens, we will continue to provide our clients with the highest quality legal services.  So far, not one client or staff member has become infected based on contact at this office and we will continue with safety protocols in an attempt to keep it that way. My office will continue to put the safety of our staff and you as our top priority. We do greatly appreciate your cooperation in conducting business in a safe fashion by utilizing current technology. Regardless of what happens, we will continue to take care of all of your legal needs.

Please rest assured, we will continue to take care of your legal needs in this challenging time, and your safety is our highest priority.

Please see our blog for more info on pandemic response.

Fairly dividing land in a divorce in Minnesota

| Nov 26, 2020 | Family Law

Many families in Brainerd and surrounding areas own several acres of land (or more). These assets often become an issue when couples divorce.

Review the factors involved in the fair division of land in Minnesota divorce.

Separate vs. marital property

When one spouse owned an asset or accrued debt before marriage, the court treats it as separate. All assets and debts accumulated during the marriage constitute separate property. However, commingled property is common, especially in long marriages. For example, if one person owned land prior to marriage but the couple built a house together and raised children there, some of the equity becomes marital property.

Equitable distribution standard

With this standard, the court decides on a fair division of assets and debts that accounts for each spouse’s current and future financial situation. When a couple cannot agree on how to divide land, real estate and other assets, they can ask the judge to decide. However, the judge may order them to sell the homestead and divide the proceeds.

Considerations in land division

In addition to establishing whether land holdings are separate or marital property, the couple should also consider:

  • Hiring an expert to provide a current land value
  • Dividing acreage equally
  • Having one partner buy out a share of the other partner’s equity in the land, based on financial and household contributions
  • Keeping the land as an investment and agreeing to divide it in the future

Other considerations vary depending on land use. For example, the couple may live on the land, own a farm or otherwise conduct business on the property. They may also have existing business or premarital agreements that dictate land division in a divorce.

Image
FindLaw Network