California is a community state. In fact it's one of only nine community property states. Community property law stands for the proposition that a husband and wife will be considered co-owners of property similar to a partnership entity.
In the state of California property owned by a couple is deemed at divorce to fit into one of three categories. A court will consider either community property, separate property, or quasi-community property.
The characterization of the piece of property that is, community, separate, or quasi-community determines how it will be divided in divorce. Community property is defined under California state law as all property, real or personal, wherever situated, acquired by married persons during the marriage while domiciled in the state.
In fact under the law, both spouses own the property acquired from the beginning of the marriage to the date of separation. How do they own it? Each owns a one half interest.
separate property is that property, which either spouse owns before the marriage, after separation, or was received during the marriage by gift or inheritance. To illustrate, let's assume you received $100,000 in inheritance from your recently departed rich grandfather. The $100,000 is yours and will be considered separate property at divorce, generally.
Income that was earned during the marriage is generally considered community property unless the income originates from separate property. In sum, your income during a marriage is going to be considered community property even if it's held in a separate count in your name or your spouse's name.
Now for quasi-community property, here it gets a little stickier. It is defined under the law as: all real or personal property, wherever situated, acquired before or after the operative date of this code in any of the following ways: (a) By either spouse while domiciled elsewhere which would have been community property if the spouse who acquired the property had been domiciled in this state at the time of its acquisition. (b) In exchange for real or personal property, wherever situated, which would have been community property if the spouse who acquired the property so exchanged had been domiciled in this state at the time of its acquisition.
In general, quasi-community property is a term that refers to property acquired by a couple when they lived in an equitable distribution state before moving to California. In California quasi-community property is treated like community property.
I hate to say this but there's an even trickier part: sometimes separate property can be calm community property during the normal course of marriage. This does happen and often results in a nasty surprise. If you are even thinking about divorce please contact me to discuss these issues and avoid any nasty surprises. Click on the links below and my resource box, visit my website, and schedule a free consultation.
In the state of California property owned by a couple is deemed at divorce to fit into one of three categories. A court will consider either community property, separate property, or quasi-community property.
The characterization of the piece of property that is, community, separate, or quasi-community determines how it will be divided in divorce. Community property is defined under California state law as all property, real or personal, wherever situated, acquired by married persons during the marriage while domiciled in the state.
In fact under the law, both spouses own the property acquired from the beginning of the marriage to the date of separation. How do they own it? Each owns a one half interest.
separate property is that property, which either spouse owns before the marriage, after separation, or was received during the marriage by gift or inheritance. To illustrate, let's assume you received $100,000 in inheritance from your recently departed rich grandfather. The $100,000 is yours and will be considered separate property at divorce, generally.
Income that was earned during the marriage is generally considered community property unless the income originates from separate property. In sum, your income during a marriage is going to be considered community property even if it's held in a separate count in your name or your spouse's name.
Now for quasi-community property, here it gets a little stickier. It is defined under the law as: all real or personal property, wherever situated, acquired before or after the operative date of this code in any of the following ways: (a) By either spouse while domiciled elsewhere which would have been community property if the spouse who acquired the property had been domiciled in this state at the time of its acquisition. (b) In exchange for real or personal property, wherever situated, which would have been community property if the spouse who acquired the property so exchanged had been domiciled in this state at the time of its acquisition.
In general, quasi-community property is a term that refers to property acquired by a couple when they lived in an equitable distribution state before moving to California. In California quasi-community property is treated like community property.
I hate to say this but there's an even trickier part: sometimes separate property can be calm community property during the normal course of marriage. This does happen and often results in a nasty surprise. If you are even thinking about divorce please contact me to discuss these issues and avoid any nasty surprises. Click on the links below and my resource box, visit my website, and schedule a free consultation.
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