Tennessee is classified as a separate property state. This legal distinction means that assets acquired during marriage are generally owned separately by the spouse who acquired them, unless specific actions are taken to make them jointly owned. For example, if one spouse earns a salary, that income is considered their separate property. Gifts and inheritances received by one spouse are also typically considered separate property.
This legal framework significantly impacts estate planning, asset division during divorce, and debt responsibility. Understanding this distinction is crucial for married couples residing in Tennessee, as it shapes their financial rights and obligations. Historically, separate property systems arose from legal traditions that treated spouses as separate legal entities. This approach contrasts with community property states, where most assets acquired during marriage are considered equally owned by both spouses.