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Property Lawyer San Diego - Divorce Lawyer, Family Law Attorney, and Mediation Services
Q. What is
community property?
Under California law community property is any property acquired
by a husband and wife during marriage with community earnings,
accumulations, and profits during marriage. In California a
marriage is generally viewed as a partnership where both husband
and wife are viewed as having equal ownership of all assets
acquired during marriage. Generally these assets include a home,
furniture, automobiles, pensions/retirement, stocks, bonds,
recreation vehicles, and collections. Likewise, debts incurred
during marriage are community debts and both husband and wife
are equally responsible for debt repayment.
When spouses separate and divorce, the court has a duty to
determine the value of all community property and divide it
equally. In most cases the court will determine the balance due
on all community debt and order that spouses share equally in
repayment of those obligations.
Q. What is separate property?
Under California law separate property is any property owned by
one spouse prior to marriage or acquired by that spouse during
marriage by inheritance or gift. Additionally, interest or
income from those assets are the separate property of that
spouse. A spouse has no ownership interest in the separate
property of the other spouse whatsoever. The only time a spouse
may get an interest in the other spouses separate property is
when there has been a commingling of those assets.
California law provides that separate property may be converted
into community property by an agreement in writing between
spouses. The court will determine if there is any separate
property and, if there is, confirm its ownership to the spouse
who acquired it.
Q. How will our property be divided?
Under California law the court requires that all community
property be divided equally. The court has discretion in
determining how to divide community property to assure that a
fair result is reached. This does not necessarily mean that each
asset will be divided equally. The court is only required to
divide property as equally and equitably as possible.
In dividing community property equally, the court may do the
following:
a.
Award one spouse a piece or specific group of property of a
certain value and award a certain piece or specific group of
property of equivalent value to the other spouse;
b.
Award to each spouse one half of an asset;
c.
Order specific property to be sold and the proceeds divided
equally;
d.
Award each spouse a one-half undivided interest in a piece of
property.
