What is Equitable Distribution?
Equitable distribution is a method for distributing property acquired by owned by either spouse upon the dissolution of the marriage, which replaces “common law” principles of property ownership. Prior to the adoption of “equitable distribution” in New York, New York was a “common law property” state. This meant that upon the dissolution of the marriage, the property owned by either spouse was distributed according to the manner in which title was held. New York is now an “Equitable Distribution State.” This means that upon dissolution of a marriage, the Court must distribute “equitably” all “marital property” regardless of the manner in which title is held, considering the following factors: Income of each party at time of marriage;