Generally

Oregon is an “equitable” property division state. Equitable does not mean an equal division; rather, it means a fair division in terms of value. As a broad concept, Oregon law treats a marriage as a partnership, and all income earned and property acquired during the marriage is marital and should be fairly divided. Marital property is subject to division between spouses regardless of which spouse holds title. Debts as well as assets will be considered. There is no fixed way to determine how either you or the court should divide your property. Factors that the court considers include the nature and extent of the property, the duration of the marriage, and the economic circumstances of each spouse. In some cases, gross misconduct by a spouse (such as supporting a mistress) can be considered. The court will approve your division if you and your spouse can reach a reasonable agreement. The court will hold a hearing and divide your assets and debts according to its own opinion of “equity” if you and your spouse cannot reach an agreement.

Download a sample Asset and Liability Statement.