Separation of property is a legal concept often used in marriage and partnership agreements. It means that each partner retains ownership of their individual assets and liabilities acquired before and during the relationship. This arrangement helps clarify financial responsibilities and protects personal property in case of a divorce or separation. In many jurisdictions, couples can choose to establish a prenuptial agreement or postnuptial agreement to formalize the separation of property. This ensures that each partner's assets, such as real estate, bank accounts, and investments, remain distinct, allowing for a more straightforward division if the relationship ends.