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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.
In all ordinary cases, spouses do not owe any taxes for property transfers due to a divorce. This is controlled by two sections of the law: U.S. Code Section 1041(a) and U.S. Code Section 2516.
The right to receive property conveys ownership for tax Purposes. A decree of divorce transfers the right to that property by reason of the marriage and is also a transfer within a marriage. It makes no difference whether the property itself or equivalent compensation is transferred before, or after the decree dissolves the marriage.
Ferguson, 639 So.2d 921 (Miss. 1994), [2] the court described equitable distribution of marital property at divorce as more fair, or equitable, than the separate property system. The court may consider such factors as "substantial contribution to the accumulation of the property, the market and emotional value of the assets, tax and other ...
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California may also award property palimony due to "oral contracts." [59] California has been listed as one of the three most "liberal" palimony laws, in addition to Washington State and Minnesota. [60] Most recent pro-palimony literature/case: (2010) Colorado recognizes palimony. [61] [62] [63] Most recent pro-palimony literature/case: (2012)
Composition of state and local tax revenues by sales taxes (brown), property taxes (white), licenses and other fees (grey), individual and corporate income taxes (green) in 2007. Determining the value of property is a critical aspect of property taxation, as such value determines the amount of tax due.
The National Association of Women Lawyers was instrumental in convincing the American Bar Association to create a Family Law section in many state courts, and pushed strongly for no-fault divorce law around 1960 (cf. Uniform Marriage and Divorce Act). In 1969, California became the first U.S. state to pass a no-fault divorce law. [15]
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related to: oregon property tax laws in texas due to divorce