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 New Jersey, the state follows the principles of equitable distribution rather than community property when it comes to dividing assets during a divorce. Marital property in New Jersey includes all property and assets acquired by either spouse during the marriage, regardless of whose name is on the title. This property is subject to division in a way that the court deems fair, which may not necessarily be equal. Factors the court may consider include the duration of the marriage, the age and physical health of the parties, the income or property brought into the marriage by each party, and the standard of living established during the marriage, among others. Separate property, such as inheritances, gifts, and assets acquired before the marriage, is generally not subject to division unless it has been commingled with marital property. It's important to note that while New Jersey is not a community property state, the actual division of assets may still result in a variety of distributions based on the court's assessment of what is equitable.