West Virginia Divorce ~ Property Division Factors
In West Virginia, the property and debt issues are typically settled between the spouses by by a signed Marital Settlement Agreement or the property award is actually an order and decreed by the Circuit Court within the Decree of Divorce.
West Virginia is also known as an "equitable distribution" state. The Circuit Court will take the following approach to dividing the assets when the spouses are unable to reach a settlement.
First it will identify which property and debt is to be considered marital. Then it will assign a monetary value on the marital property and debt. Lastly it will equally distribute the marital assets between the two parties in an equitable fashion. Equitable does not mean equal, rather what what is deemed by the Circuit Court to be fair.
Marital property of the parties shall be divided equitably between the parties after considering the following :
1. The extent to which each party has contributed to the acquisition, preservation and maintenance, or increase in value of marital property by monetary contributions.
2. The extent to which each party has contributed to the acquisition, preservation and maintenance or increase in value of marital property by non-monetary contributions.
3. The extent to which each party expended his or her efforts during the marriage in a manner which limited or decreased such party's income earning ability or increased the income earning ability of the spouse.
4. The extent to which each party, during the marriage, may have conducted himself or herself so as to dissipate or depreciate the value of the marital property to the parties.
A monetary award may be ordered of the exclusive use and occupancy of the marital home to a party. An order granting use and occupancy of the marital home will include the use of any household goods, furniture and furnishings. The order will establish a definite period for the use and occupancy, ending at a specific time set forth in the order, subject to modification upon the petition of either party.
Marital misconduct will not be considered by the court in determining the proper distribution of marital property.
Source : West Virginia Code - Sections: 48-5-604, 48-5-612, 48-7-101