Division of Property (legal concept)

Division of property refers to the legal process of allocating ownership of assets and belongings between parties, often during divorce or after the death of an individual. It involves identifying, valuing, and distributing property, which can include real estate, financial accounts, and personal items. Laws vary by jurisdiction and can influence how property is divided, aiming for fairness or equality. The process may require negotiation or court intervention, particularly if parties disagree. Ultimately, the goal is to reach a resolution that respects the rights and interests of those involved.