Division of property
Sec. 4. (a) In an action for dissolution of marriage under
IC 31-15-2-2, the court shall divide the property of the parties,
whether:
(1) owned by either spouse before the marriage;
(2) acquired by either spouse in his or her own right:
(A) after the marriage; and
(B) before final separation of the parties; or
(3) acquired by their joint efforts.
(b) The court shall divide the property in a just and reasonable
manner by:
(1) division of the property in kind;
(2) setting the property or parts of the property over to one (1)
of the spouses and requiring either spouse to pay an amount,
either in gross or in installments, that is just and proper;
(3) ordering the sale of the property under such conditions as
the court prescribes and dividing the proceeds of the sale; or
(4) ordering the distribution of benefits described in
IC 31-9-2-98(b)(2) or IC 31-9-2-98(b)(3) that are payable after
the dissolution of marriage, by setting aside to either of the
parties a percentage of those payments either by assignment or
in kind at the time of receipt.
As added by P.L.1-1997, SEC.7.
Last modified: May 24, 2006