What is "marital property"?

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For purposes of distribution of property in a dissolution action, all property acquired by either spouse after the marriage and before a judgment of dissolution of marriage or declaration of invalidity of marriage, except by gift or inheritance, including non-marital property transferred into some form of co-ownership between the spouses, is presumed to be marital estate or marital property. The name in which property is held is not terribly important. Regardless of whether title is held individually or by the spouses in some form of co-ownership such as joint tenancy, tenancy in common, tenancy by the entirety, or community property, if the property was acquired during the marriage (except by gift or inheritance) it is marital property, and both spouses have an interest in it.

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