Marital property is generally property that is acquired during marriage, is jointly owned by the spouses, and is subject to division upon divorce—whether the spouses reside in (1) an equitable distribution or common law property state or (2) in a community property state.

Marital property is distinct from separate property, which is generally property that a spouse acquired before marriage—or acquired by gift or inheritance during marriage—and is not subject to division upon divorce.

Community property states generally include Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. In these states, divorce courts generally start with the presumption that the marital property is owned equally by the spouses and will be divided equally upon divorce.

In other states—so-called equitable distribution or common law property states—the divorce court attempts to divide the spouses’ assets equitably (fairly) and may consider a spouse’s separate property in deciding to make an unequal division of the spouses’ marital property.

In practice, the difference between the division of assets in community property states and in equitable distribution states is sometimes not as great as it may seem, as the court in a community property state may have the discretion to divide the spouses’ community property on a 60-40, 70-30, or other unequal basis.

In Mississippi, marital property is subject to division upon divorce under the equitable distribution system, as Mississippi is not a community property state. This means that during a divorce, the court will divide the spouses' assets in a manner that is considered fair, but not necessarily equal. Marital property includes assets acquired during the marriage and is jointly owned by the spouses. Separate property, on the other hand, consists of assets one spouse acquired before marriage or received as a gift or inheritance during the marriage, and it is typically not subject to division in a divorce. The court will consider various factors to determine an equitable distribution of marital property, which may result in an unequal division based on the circumstances of the case. Factors can include the contribution of each spouse to the accumulation of property, the economic circumstances of each spouse, and the length of the marriage, among others. It is important to note that while the principles of equitable distribution guide the division of assets in Mississippi, the outcome in each case can vary significantly based on the specific facts and the discretion of the court.