What Happens To Foreign Property In A Divorce?

A married couple may be from a foreign country, have a foreign vacation property or habe simply diversified their investment portfolio by buying foreign property.  Property is still property no matter where it is located.  The question is “What happens to foreign property in a divorce?” A property’s location outside of the United States may impact how the property is finally distributed to the parties in a divorce. Foreign Property is still Marital Property In Illinois, “’[M]arital property’ means all property, including debts and other obligations, acquired by either spouse subsequent to the marriage”750 ILCS 5/503(a). So, if the property was purchased during the marriage with marital funds, that property can be allocated to either or both of the parties by the Illinois courts during a divorce. Frequently, foreign properties will be purchased by a married couple in the United States but held by a relative in the foreign…

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