The Concept of Community Property

If you reside in the state of California and are contemplating divorce, you need to understand the concept of community property.

Although not all states are community property states, California is one of the few that strictly adhere to the notion that any property/assets obtained during a marriage are considered communal. Therefore, if you are seeking a divorce from your partner, you will be asked to split the community property down the middle. Of course, there are certain exceptions to the rule, which can be explained to you by a Los Angeles family law attorney.

In addition to community property, you will be asked to outline any separate property under your name. This applies to any property/assets that were obtained before and after the marriage, as well as any personal gifts such as an inheritance. These will be regarded separately from community property and, in many cases, you will be able to remain in possession of these assets.

To learn more about property division in the state of California and how it will impact your divorce, contact Claery & Green today.