Search results
Results from the WOW.Com Content Network
The community property concept originated in civil law jurisdictions but is now also found in some common law jurisdictions. U.S. states with community property laws draw primarily from the marital property laws under the civil law of France and Spain. [10] Division of community property may take place by item by splitting all items or by values.
Community property (United States) also called community of property (South Africa) is a marital property regime whereby property acquired during a marriage is considered to be owned by both spouses and subject to division between them in the event of divorce. Conversely, property owned by one spouse before the marriage, along with gifts and ...
Properties that are sold on the basis of equitable title have a legal chain of title intact, and a recorded transfer with the local municipality. Legal title is actual ownership of the property as when the property has been bought, the seller paid in full and a deed or title is properly recorded. Equitable title separates from legal title upon ...
Community property state vs. equitable distribution state. States like New York and Iowa are equitable distribution states with the intent of splitting assets and debts acquired during a marriage ...
Alaskan law gives couples the option to create community property by written agreement. [35] Most community property states start with the presumption that community assets will be divided equally, whereas "equitable distribution" states presume fairness may dictate more or less than half of the assets will be awarded to one spouse or the other ...
%PDF-1.5 %âãÏÓ 100 0 obj > endobj xref 100 62 0000000016 00000 n 0000002402 00000 n 0000002539 00000 n 0000001570 00000 n 0000002637 00000 n 0000002762 00000 n 0000003272 00000 n 0000003519 00000 n 0000003561 00000 n 0000004173 00000 n 0000005340 00000 n 0000005569 00000 n 0000005954 00000 n 0000006116 00000 n 0000006328 00000 n 0000006538 00000 n 0000006700 00000 n 0000006911 00000 n ...
The Uniform Marriage and Divorce Act §307 (UMDA §307) [3] also allows for the equitable distribution of property and lists factors the court should consider, e.g. "the duration of the marriage, and prior marriage of either party, antenuptial agreement of the parties [which is the same as a prenuptial agreement or premarital agreement], the ...
In most jurisdictions, the real property interest created by the contract will pass to the buyer's heirs, while the seller's personal property interest created by the contract will pass to the seller's estate. The State of New York does not recognize equitable conversion. In New York, as long as the buyer is without fault, the risk of loss ...