Property & Debt Division Factors in Tennessee Divorce Law

Tennessee Property Division Factors

Tennessee Courts consider the following factors when deciding property division:

Property Division Factors in Tennessee Divorce Law

• The duration of the marriage
• The age, physical and mental health, vocational skills, employability, earning capacity, estate, financial liabilities, and financial needs of each of the parties
• The tangible or intangible contribution by one party to the education, training, or increased earning power of the other party
• The relative ability of each party for future acquisitions of capital assets and income
• The contribution of each party to the acquisition, preservation, appreciation, depreciation, or dissipation of the marital or separate property, including the contribution of a party to the marriage as homemaker, wage earner or parent, with the contribution of a party as homemaker or wage earner to be given the same weight if each party has fulfilled its role
• The value of the separate property of each party
• The estate of each party at the time of the marriage
• The economic circumstances of each party at the time the division of property is to become effective
• The tax consequences to each party, costs associated with the reasonably foreseeable sale of the asset, and other reasonably foreseeable expenses associated with the asset
• In determining the value of an interest in a closely held business or similar asset, all relevant evidence, including valuation methods typically used with regard to such assets without regard to whether the sale of the asset is reasonably foreseeable. Depending on the characteristics of the asset, such considerations could include, but would not be limited to, a lack of marketability discount, a discount for lack of control, and a control premium, if any should be relevant and supported by the evidence
• The amount of social security benefits available to each spouse; and
• Such other factors as are necessary to consider the equities between the parties.

Tennessee Debt Division Factors

Debt Division Factors in Tennessee Divorce Law

Tennessee Courts consider the following four issues when deciding how to divide debt between the spouses:

1. 1. 1. The debt’s purpose
      2. Which party incurred the debt
      3. Which party benefited from incurring the debt
      4. Which party is best able to repay the debt

Updated as of April 8, 2019. The Tennessee Legislature amends and enacts new family laws every year. Always check for the most current law.

Resources, References and More:

• Property Division in Tennessee Divorce
• Tennessee Property Division Divorce Laws & Factors | Answers to FAQs
• Property Division – Tennessee Family Law Blog for analysis, commentary, updates and case law summaries
• Tennessee Divorce Laws
• The Tennessee Divorce Client’s Handbook: What Every Divorcing Spouse Needs to Know