The term “divisim” is derived from Latin and it signifies “separately” or “individually”. It was commonly employed in legal papers to specify that something should be divided or regarded as distinct from other elements. For instance, if an individual possessed multiple properties, they might be listed as “divisim” to indicate that they were separate and unique from one another.
Divisim (di-vI-z?m) is an adverb derived from Law Latin. Historically, it means to do something separately or individually. In legal contexts, divisim is used to indicate that each thing is considered on its own, rather than as part of a group or collective. For instance, if a judge orders that defendants be tried divisim, it means that each one will have their own trial instead of being tried together. Similarly, in a divorce settlement, the couple’s assets were divided divisim, with each item being considered separately and divided accordingly. These examples demonstrate how divisim ensures that things are evaluated individually, guaranteeing a fair and just outcome.
Divisim is a legal concept that refers to the division or separation of property or assets between two or more parties, typically during a divorce or dissolution of a partnership.
Divisim differs from community property in that it allows for a more flexible division of assets, taking into account factors such as individual contributions, needs, and future earning potential, rather than simply splitting everything equally.
When applying Divisim, factors such as the length of the marriage or partnership, each party’s financial contributions, non-financial contributions (such as homemaking or child-rearing), future earning potential, and individual needs are taken into consideration.
Divisim can be applied to any type of relationship where property or assets need to be divided, including marriages, civil partnerships, and common-law relationships.
Divisim is not mandatory, and parties can choose to divide their assets using other methods, such as mediation, negotiation, or litigation. However, Divisim provides a fair and flexible framework for asset division.
Yes, Divisim can be used to divide both assets and debts between parties. It ensures a fair and equitable distribution of both financial obligations and resources.
Yes, parties can modify or override Divisim through a prenuptial or postnuptial agreement. These agreements allow couples to establish their own rules for asset division, which may deviate from the principles of Divisim.
Hiding assets during the Divisim process is considered fraudulent behavior. If one party is found to have hidden assets, the court may impose penalties, such as awarding a larger share of the assets to the innocent party or imposing fines.
Divisim is typically applied prospectively, meaning it is used to determine the division of assets at the time of separation or divorce. However, in certain cases, courts may consider the principles of Divisim when reviewing previous asset divisions if there is evidence of unfairness or significant changes in circumstances.
Divisim may vary slightly between jurisdictions, as different legal systems and statutes may have their own specific rules and guidelines for asset division. It is important to consult with a local attorney to understand how Divisim is applied in your jurisdiction.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 25th April 2024.
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