Any property purchased or acquired by either spouse during a marriage is marital property that a court is able to divide in a divorce. Marital property includes both real estate and personal property. Property that either spouse obtained before marriage, such as an inheritance or a home that one of them already owned, would remain the separate property of that spouse.
Likewise, any debt that either spouse incurs during the marriage also is subject to division in a divorce. If one spouse had significant debt before coming into the marriage, however, that spouse remains responsible for that debt.