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In non-community property states property may be divided by equitable distribution. Generally speaking, the property that each partner brings into the marriage or receives by gift, bequest or devise during marriage is called separate property (not community property). See division of property. Division of community debts may not be the same as ...
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 ...
Division of property, also known as equitable distribution, is a division of property and debt between spouses when the marital relationship is ending. It may be done by agreement, through a property settlement , or by judicial decree.
This holds true whether your state follows community property rules (which divide assets equally) or equitable distribution rules (which divide property fairly, though not necessarily 50/50).
States like New York and Iowa are equitable distribution states with the intent of splitting assets and debts acquired during a marriage "equitably" — though not necessarily equally — between ...
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 ...
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. Commonly, assets acquired before marriage are considered individual, and assets acquired ...
The Aloha State boasts the lowest overall property tax rate — 0.27%. But don’t get confused. Hawaii is still one of the most expensive states in the country to live in.