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Community of Acquests and Gains: Each spouse owns an undivided half-interest in all property acquired during the marriage, except for property acquired by gift or inheritance during the marriage, which is separate property; or which traces to separate property acquired before the marriage, which remains separate property; or which is acquired during a period when the couple are permanently ...
Community property issues often arise in divorce proceedings and disputes after the death of one spouse. These disputes can often be avoided by proper estate planning during the spouses' joint lifetime. This may or may not involve probate proceedings. Property acquired before marriage is separate and belongs to the spouse who acquired it.
In some states, separation is a triggering event, recognized as the end of the term of the marriage. Other states do not recognize separation or legal separation. In a state not recognizing separation, a 2-year marriage followed by an 8-year separation will generally be treated like a 10-year marriage. Age of the parties at the time of the divorce
Matrimonial regimes, or marital property systems, are systems of property ownership between spouses providing for the creation or absence of a marital estate and if created, what properties are included in that estate, how and by whom it is managed, and how it will be divided and inherited at the end of the marriage.
The West Virginia Record, founded in 2005, is a weekly legal publication funded by the United States Chamber of Commerce, the largest lobbyist group in the United States, and distributed in the state of West Virginia. The Record is a product of the U.S. Chamber of Commerce's Institute for Legal Reform. It is distributed statewide and covers ...
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It is the result of Homestead Acts such as the Alaska Native Claims Settlement Act (1971) or the Stock-Raising Homestead Act (1916). [1] A split estate is similar to the Broad Form Deed, a type of legal document created in the United States in the early 1900s. These documents were used to sever property into mineral and surface rights, just ...