Legal Definitions - premarital asset

Definition: A premarital asset is an item that is owned and has value before marriage. It can include cash, property, investments, and other valuable possessions that a person brings into a marriage.

Example: If a person owns a house before getting married, that house is considered a premarital asset. If they sell the house during the marriage and use the money to buy a new house, the new house would be considered a marital asset.

This example illustrates how a premarital asset can be distinguished from a marital asset. It also shows how the value of a premarital asset can be used to acquire a new asset during the marriage.