Vermont Statutes Title 15 Sec. 751
Terms Used In Vermont Statutes Title 15 Sec. 751
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Court: means the court with jurisdiction over the proceeding. See
- Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Subpoena: A command to a witness to appear and give testimony.
- Testimony: Evidence presented orally by witnesses during trials or before grand juries.
§ 751. Property settlement
(a) Upon motion of either party to a proceeding under this chapter, the court shall settle the rights of the parties to their property by including in its judgment provisions which equitably divide and assign the property. All property owned by either or both of the parties, however and whenever acquired, shall be subject to the jurisdiction of the court. Title to the property, whether in the names of either or both parties, or a nominee, shall be immaterial, except where equitable distribution can be made without disturbing separate property.
(b) In making a property settlement, the court may consider all relevant factors, including:
(1) The length of the civil marriage.
(2) The age and health of the parties.
(3) The occupation, source, and amount of income of each of the parties.
(4) Vocational skills and employability.
(5) The contribution by one spouse to the education, training, or increased earning power of the other.
(6) The value of all property interests, liabilities, and needs of each party.
(7) Whether the property settlement is in lieu of or in addition to maintenance.
(8) The opportunity of each for future acquisition of capital assets and income. For purposes of this subdivision:
(A) The court may consider the parties’ lifestyle and decisions made during the marriage and any other competent evidence as related to their expectations of gifts or an inheritance. The court shall not speculate as to the value of an inheritance or make a finding as to its value unless there is competent evidence of such value.
(B) A party’s interest in an inheritance that has not yet vested and is capable of modification or divestment shall not be included in the marital estate.
(C) Notwithstanding any other provision of this subdivision (8), a person who is not a party to the divorce shall not be subject to any subpoena to provide documentation or to give testimony about:
(i) his or her assets, income, or net worth, unless it relates to a party’s interest in an instrument that is vested and not capable of modification or divestment; or
(ii) his or her revocable estate planning instruments, including interests that pass at death by operation of law or by contract, unless a party’s interest in an instrument is vested and not capable of modification or divestment.
(D) This subdivision (8) shall not be construed to limit the testimony given by the parties themselves or what can be obtained through discovery of the parties.
(9) The desirability of awarding the family home or the right to live there for reasonable periods to the spouse having custody of the children.
(10) The party through whom the property was acquired.
(11) The contribution of each spouse in the acquisition, preservation, and depreciation or appreciation in value of the respective estates, including the nonmonetary contribution of a spouse as a homemaker.
(12) The respective merits of the parties. (Amended 1981, No. 247 (Adj. Sess.), § 6; 2009, No. 3, § 12a, eff. Sept. 1, 2009; 2013, No. 63, § 1.)