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Full transcript by James Nolletti below.
When a couple gets divorced, the first step in the equitable distribution process is the identification of their assets and property as either separate or marital. Generally speaking, separate property is property acquired by an individual prior to their marriage, and marital property is property acquired by them during the marriage, with regard to whose name it's in. However, this process of identifying property as either separate or marital can be complicated by the principle known as transmutation, or commingling. Transmutation by commingling can occur when separate and marital property become mixed together to such a degree that each cannot be identified, valued, and isolated for purposes of classification and distribution. When this happens, the separate property characterization of the particular asset is lost, and the commingled asset is transformed into 100% marital property.
Fortunately or unfortunately, as the case may be, the parties to a divorce usually don't know about this until it's too late. There are also a few exceptions to this rule that an experienced matrimonial attorney can identify, depending upon the facts and circumstances of the particular case.
