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Written by Karen B. Hall
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Wednesday, 21 January 2009 20:35 |
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Separate property is property determined to belong solely to one of the parties and is not subject to equitable division in a divorce. "Separate property" means: - All real and personal property owned by a spouse before marriage, including, but not limited to assets held in individual retirement accounts;
- Property acquired in exchange for property acquired before the marriage;
- Income from and appreciation of property owned by a spouse before marriage (except when characterized as marital property based on the substantial contribution of the parties to the separate property of one of the parties);
- Property acquired by a spouse at any time by gift, bequest, devise or descent;
- Pain and suffering awards, victim of crime compensation awards, future medical expenses and future lost wages;
- Property acquired by a spouse after an order of legal separation where the court has made a final disposition of property.
Tenn. Code Ann. section 36-4-121
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