It depends on what types of properties you are talking about, but generally speaking, you divide things as if it were a business partnership. In other words, unless you can decide otherwise, everything titled jointly is sold and split.
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I agree with Attorney Rose that you can sell it and split it. But you can also divide it any way in which you agree. You could swap properties such that you each owned 100% of some. You could total the value minus the liabilities and one could buy the other out. You are limited only by your imagination. If you cannot agree you can sue for partition which is the forced sale of the property and then the property is sold with the proceeds divided, presumably equally.
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I agree with both of the above answers however the potential exists for the properties to be treated as if owned by a partnership of the two of you and when partnerships are dissolved there are specific rules that have to be followed. In general captal accounts, the amount each of you can prove you individually contributed to the acquesiotn of assets, will be reconciled and then income accounts. Anything left over, if any, would be divided according to the percentages of ownership each of you started out with which I would suspect is probably 50-50. If you cannot agree then as set forth above the property can be partitioned. This is similar to a foreclosure sale and should be the last thing you do because it's for sure this will result in the lowest price being paid for the property. Good Luck.
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