What Happens To My Art Collection If I Get Divorced In Oregon?

People get married at different ages and different stages in life. As time passes, spouses may acquire property together or separately and create assets and debts. In other situations, enter marriage with property. During a high net divorce, spouses must divide the property between them based on its status as either separate property or marital property.

Property may include real estate, automobiles, benefits, money, and personal property. An art collection is a form of personal property. If an art collection was purchased before the marriage, inherited, given as a gift to one spouse or bequeathed to a spouse in a will, it is considered as separate property. A spouse gets to keep their separate property during a divorce. If the art collection was acquired during the marriage, whether held separately or jointly by spouses, it is considered marital property. The art collection would then be equitably distributed between the spouses.