What is martial property?

Marital property refers to assets and debts acquired during a marriage that are subject to division upon divorce. In many jurisdictions, it includes income, real estate, and personal belongings accumulated while married, regardless of whose name is on the title. Exceptions often apply to gifts or inheritances received by one spouse, which may be considered separate property. The specifics of how marital property is divided can vary significantly based on local laws and the circumstances of the marriage.