Separate Property
Separate Property refers to assets owned by one spouse before marriage or acquired during the marriage through gifts or inheritance. This type of property remains under the sole ownership of that spouse, even in the event of a divorce.
In many jurisdictions, Separate Property is distinguished from Marital Property, which is jointly owned and typically divided between spouses during a divorce. To maintain the status of Separate Property, it is important for the owner to keep clear records and avoid commingling it with Marital Property.