What does Separate Property mean? Read on to discover the definition & meaning of the term Separate Property - to help you better understand the language used in insurance policies.
A separate property is a property owned by one party in a marriage. Under the distribution of properties during divorce, the separate property immediately goes to one spouse and gets differentiated from the properties they share with the other party in the marriage.
We hope the you have a better understanding of the meaning of Separate Property.