Issue: Under Minnesota law, are the proceeds from investments purchased with premarital funds considered marital property or nonmarital property?
|Area of Law:||Family Law|
|Keywords:||Marital property; Nonmarital property; Investments purchased with premarital funds|
|Cited Cases:||383 N.W.2d 402; 388 N.W.2d 777; 414 N.W.2d 184; 467 N.W.2d 328; 521 N.W.2d 874; 353 N.W.2d 633; 400 N.W.2d 371; 562 N.W.2d 797; 309 N.W.2d 748|
|Cited Statutes:||Minn. Stat. Ann. § 518.54, subd. 5;|
Marital and nonmarital property are defined by statute in Minnesota:
“Marital property” means property, real or personal, . . ., acquired by the parties, or either of them, to a dissolution . . . proceeding at any time during the existence of the marriage relation between them . . . . All property acquired by either spouse subsequent to the marriage and before the valuation date is presumed to be marital property regardless of whether title is held individually or by the spouses in a form of coownership . . . . The presumption of marital property is overcome by a showing that the property is nonmarital property.
“Nonmarital property” means property real or personal, acquired by either spouse before, during or after the existence of their marriage, which
(a) is acquired as a gift, bequest, devise or inheritance […]
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