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Under a community property regime, depending on the jurisdiction, property owned by one spouse before marriage, and gifts and inheritances received during marriage, are treated as that spouse's separate property in the event of divorce. All other property acquired during the marriage is treated as community property and is subject to division ...
In an exception to the statutory expansion of the legal rights of married women, the California Constitution of 1849, drawing on the community property tradition of Spanish civil law rather than the common law tradition, distinguished a wife's property from community property: "All property, both real and personal, of the wife, owned or claimed ...
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 ...
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.
Why should I wait two years before selling my house? Once you have lived in a home for two years as your primary residence, the IRS will allow you to realize a profit of $250,000 before applying ...
The remainder of the profits are community property. [3] Typical businesses that would be considered for Pereira accounting: single person professions or very small businesses such as sole proprietorships, or businesses where the efforts of the owner-spouse comprise more than 50% of the labor to grow the company's value.
The couple has recently offloaded a wine-country estate in California and two Utah properties. Robert Redford and his wife have put their secluded home outside San Francisco on the market for $4. ...
Proposition 13 (officially named the People's Initiative to Limit Property Taxation) is an amendment of the Constitution of California enacted during 1978, by means of the initiative process, to cap property taxes and limit property reassessments to when the property changes ownership, and to require a 2/3 majority for tax increases in the ...