In Ohio, property acquired previous to marriage are usually thought-about separate property and stay underneath the only possession of the person who acquired them. This consists of actual property, autos, financial institution accounts, investments, and different tangible or intangible property. For instance, if one partner owned a home earlier than the wedding, it sometimes stays their separate property all through the wedding, even when the opposite partner contributes to mortgage funds or residence enhancements in the course of the marriage. Nonetheless, the character of separate property may be altered whether it is commingled with marital property or if a partner deliberately transfers possession to joint possession.
Understanding the excellence between separate and marital property is essential for property planning, asset safety, and potential divorce proceedings. Defending premarital property helps people preserve management over property they acquired by way of their very own efforts earlier than the wedding. Traditionally, this authorized precept displays the understanding that people enter marriage with pre-existing financial lives and pursuits that needs to be revered. Clear documentation, corresponding to prenuptial agreements, can additional solidify the separate nature of premarital property and supply added readability and safety.
