The Grinnell Firm, PSC Do You Have An Emergency?
Contact Us Now
1-859-DIVORCE

How to split expensive art in a divorce

There are some works of art in Kentucky that have more worth than the houses they are in. It is no wonder why so many couples argue over paintings and other works that can hold significant value. In some cases, fighting over a painting can be equally as contentious as fighting over child custody. 

Before going forth with divorce proceedings, a couple should document every single asset they own. This includes every work of art. In addition to the piece, the couple should also acquire any documentation that could help a judge decide who gets the painting once the marriage is formally over. 

When did the couple purchase the painting?

It is vital to gather documentation showing when the person bought the painting and who bought it. In the event one spouse brought the painting into the marriage and purchased it before the wedding, that individual would get the painting in the divorce. In this instance, the court views the painting as separate property, which means it is not subject to division. Even if one spouse purchased the painting before the marriage and only received it after, then it would still be separate property. When a couple uses marital funds to buy the painting during the marriage, it is then marital property and subject to division.

Can one spouse buy out the other?

There are several options available to couples who have expensive artwork to divide. For starters, they can decide to sell the piece and divide the money between them. One spouse can opt to buy out the other's interest in the painting to gain full ownership. Additionally, one spouse can offer other assets to give to the other party. For example, one spouse can give the other spouse a car or vacation property in exchange for full rights to the painting. The best option for any couple comes down to how important the artwork is to both individuals. 

No Comments

Leave a comment
Comment Information

Tell Us About Your Situation. We Will Contact You Back Promptly.

Get Started

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Consult an Experienced Florence Family Law Attorney

Our Florence divorce lawyer is happy to answer any questions you have about divorce or any family law matter. Call 859-DIVORCE (859-348-6723) or email us to schedule an appointment. We can assess the facts of your case and recommend the best steps to take next.

The Grinnell Firm, PSC
71 Cavalier Boulevard
Suite 127
Florence, KY 41042

Phone: 859-408-7159
Fax: 859-919-2155
Florence Law Office Map