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§ 3502. Equitable division of marital property
(a) GENERAL RULE.-- Upon the request of either party in an action for
divorce or annulment, the court shall equitably divide, distribute or assign, in kind or otherwise, the marital property between the parties without regard to marital misconduct in such percentages and in such manner as the court deems just after considering all relevant factors. The court may consider each marital asset or group of assets independently and apply a different percentage to each marital asset or group of assets. Factors which are relevant to the equitable division of marital property include the following:
(1) The length of the marriage.
(2) Any prior marriage of either party.
(3) The age, health, station, amount and
sources of income, vocational skills, employability, estate, liabilities and needs of each of the parties.
(4) The contribution by one party to the
education, training or increased earning power of the other party.
(5) The opportunity of each party for future acquisitions of capital assets and income.
(6) The sources of income of both parties, including, but not limited to, medical, retirement, insurance or other benefits.
(7) The contribution or dissipation
of each party in the acquisition, preservation, depreciation or appreciation of the marital property, including the contribution of a party as homemaker.
(8) The value of the property set apart to each party.
(9) The standard of living of the parties established during the marriage.
(10) The economic
circumstances of each party at the time the division of property is to become effective.
(10.1) The Federal, State and local tax ramifications associated with
each asset to be divided, distributed or assigned, which ramifications need not be immediate and certain.
(10.2) The expense of sale, transfer or liquidation
associated with a particular asset, which expense need not be immediate and certain.
(11) Whether the party will be serving as the custodian of any
dependent minor children.
(b) LIEN.-- The court may impose a lien or charge upon property of a party as security for the payment of
alimony or any other award for the other party.
(c) FAMILY HOME.-- The court may award, during the pendency of the action
or otherwise, to one or both of the parties the right to reside in the marital residence.
(d) LIFE INSURANCE.-- The court may direct the continued maintenance and beneficiary designations of
existing policies insuring the life or health of either party which were originally purchased during the marriage and owned by or
within the effective control of either party. Where it is necessary to protect the interests of a party, the court may also direct the purchase of, and beneficiary designations on, a policy insuring the life or health of either party.
(e) POWERS OF THE COURT.-- If, at any time, a party has failed to comply with an
order of equitable distribution, as provided for in this chapter or with the terms of an agreement as entered into between the parties, after hearing, the court may, in addition to any other remedy available under this part, in order to effect compliance with its order:
(1) enter judgment;
(2) authorize the taking and seizure of the goods and chattels and collection of the rents and profits of the
real and personal, tangible and intangible property of the party;
(3) award interest on unpaid installments;
(4) order and direct the transfer or sale of any
property required in order to comply with the court's order;
(5) require security to insure future payments in compliance with the court's order;
(6) issue
attachment proceedings, directed to the sheriff or otherproper officer of the county, directing that the person named as having failed to comply with the court order
be brought before the court, at such time as the court may direct. If the court finds, after hearing, that the person willfully failed to comply with the court order,
it may deem the person in civil contempt of court and, in its discretion, make an
appropriate order, including, but not limited to, commitment of the person to the county jail for a period not to exceed six months;
(7) award counsel fees and costs;
(8) attach wages; or
(9) find the party in contempt.
(f) PARTIAL DISTRIBUTION.-- The court, upon the request of either party, may at any
stage of the proceedings enter an order providing for an interim partial distribution or assignment of marital property.
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