Define community property: in California, community property is all property acquired by either spouse during the marriage while domiciled in California. The community of property definition means both spouses own each asset equally — a 50/50 undivided interest — regardless of who earned the money or whose name is on the title.
Is California a Community Property State?
Is california community property state? Yes — California is one of nine community property states in the United States. What is community property state status? It means that the default rule for property acquired during marriage is equal ownership by both spouses. What is a community property state compared to a common law state? In common law states, property belongs to whoever earned it or whose name is on the title. In California and other community property states, marital earnings and purchases belong equally to both spouses.
What Is and Is Not Community Property?
Community property includes: wages and salary earned during the marriage; real estate purchased during the marriage; retirement benefits accrued during the marriage; businesses started during the marriage; and debts incurred during the marriage. Separate property — not divided in divorce — includes: property owned before marriage; inheritances received during marriage; gifts received from third parties; and earnings after the date of separation. Define community property precisely: it is acquired during marriage, before separation, by either spouse, while living in California.
Assumption of Mortgage After Divorce and Community Property
Assumption of mortgage after divorce is directly tied to community property rules — the family home purchased during marriage is community property subject to equal division. One spouse can keep the home by refinancing or assuming the mortgage in their name alone and paying the other spouse their 50% equity share. Furubotten Law, APC handles community property division throughout Orange County and Riverside County. Call (714) 795-3862 for a complimentary case evaluation.