9.08.070 Disposition of Personal Property

(a) In a proceeding for dissolution of the marriage, or for legal separation, or in a proceeding for disposition of personal property following dissolution of the marriage by a court which lacked personal jurisdiction over the absent spouse or lacked jurisdiction to dispose of the property, the Court shall assign each spouse's personal property to him. It also shall divide the marital personal property without regard to marital misconduct in just proportions considering all relevant factors including:

(1) Contribution of each spouse to acquisition of the marital, personal property, including contribution of a spouse as homemaker;

(2) Value of the personal property set apart to each spouse;

(3) Duration of the marriage; and

(4) Economic circumstances of each spouse when the division of personal property is to become effective, including the desirability of awarding the family home which is non-trust property or the right to live therein for reasonable periods to the spouse having custody of any children.

(b) For purposes of this Act, "marital property" means all personal property, not held in trust by the U.S. government acquired by either spouse subsequent to the marriage except:

(1) Personal property acquired by gift, bequest, devise, or descent;

(2) Personal property acquired in exchange for personal property acquired before the marriage or I exchange for personal property acquired by gift, bequest, devise, or descent;

(3) Personal property acquired by a spouse after a decree of legal separation;

(4) Personal property excluded by valid agreement of the parties; and

(5) The increase in value of personal property acquired before the marriage;

(6) All property held in trust for an Indian person by the United States government.

(c) All personal property acquired by either spouse after the marriage and before a decree of legal separation is presumed to be marital personal property, regardless of whether title is hold individually or by the spouses in some form of co-ownership such as joint tenancy, tenancy in common, tenancy by the entirety, and community property. The presumption of marital personal property is overcome by a showing that the personal property was acquired by a method listed in Subsection (b).