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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 ...
All other property acquired during the marriage is treated as community property and is subject to division between the spouses in the event of divorce. The United States has nine community property states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. [1]
Separate Property with Equitable Distribution: Under this system, when substantially more property acquired during a marriage is owned by one spouse (e.g. title to all marital property is held in the husband's name only), the courts will make an equitable distribution of the richer spouse's property at death or dissolution of the marriage.
In 1842, New Hampshire allowed married women to own and manage property in their own name during the incapacity of their husband, and Kentucky did the same in 1843. In 1844 Maine extended married women property rights by granting them separate economy and then trade licenses. Massachusetts also granted married women separate economy in 1844. [10]
Assets you bought during marriage using separate property funds — such as a car purchased with money you earned before you married Gifts given to an individual spouse, since this is an unearned ...
It may be done by agreement, through a property settlement, or by judicial decree. Distribution of property is the division, due to a death or the dissolution of a marriage, of property which was owned by the deceased, or acquired during the course of the marriage.
In the event of divorce, she adds, "In the 1950s and 1960s, most states held that earnings acquired during marriage were separate property, so homemakers weren’t entitled to a share of what ...
a transfer of personal property to another property during marriage will normally remain personal property. Just be careful about real estate as in Thailand, it causes a problem and the conflict of law act explain these. The joint property includes: property acquired at the time of the marriage;