In Minnesota, the division of assets during a divorce follows the rules on equitable distribution. This means that the court will attempt to divide the marital property and debts in a way that is fair and equitable, though not necessarily equal.
Shared memberships, such as country club memberships, gym memberships or memberships to wholesale clubs, will be subject to this equitable distribution.
An overview of the process
While there are no set rules on how courts divide shared memberships in a divorce, some general steps they may take include the following:
- Identifying marital memberships: The court will identify which memberships the spouses acquired together during the marriage. This includes ensuring that one spouse did not receive it as a gift individually.
- Appraising membership value: Determining the value of the membership, whether clear market value or resale value, may be the next step during the process. In case the court cannot determine the value, professional assistance or mutual agreement between parties may be necessary.
- Dividing the membership: After identification and valuation, the court will decide on the most equitable way to divide the membership. It could let one spouse keep the membership and compensate the other with another property of the same value, or the spouses can sell the membership and share the proceeds.
Note that this is a general process, and the outcome of each case will still depend on the specifics of the divorce and the nature of the asset involved.
Dividing any property in a divorce can be complex and overwhelming, and it is not uncommon to face difficulties along the way. Nonetheless, it is possible to minimize errors and maintain expectations with proper resources and the guidance of a legal representative knowledgeable in the property division rules of your state.
