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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 ...
Property acquired before marriage is separate and belongs to the spouse who acquired it. Property acquired during marriage is presumed to belong to the community estate except if acquired by inheritance or gift, or by exchange for other separate property. This definition leads to numerous issues that can be difficult to ascertain.
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.
A prenuptial agreement, antenuptial agreement, or premarital agreement (commonly referred to as a prenup), is a written contract entered into by a couple before marriage or a civil union that enables them to select and control many of the legal rights they acquire upon marrying, and what happens when their marriage ends by death or divorce.
Parents who gave property to a daughter upon marriage also enjoyed the protection the Act provided from a son-in-law's mishandling of his family's affairs. [14] The property a woman could own and protect from her husband's creditors included slaves. [15] Maryland enacted important legislation in 1843 and Arkansas enacted legislation in 1846. [15]
Traditional asset division system stated that what a spouse owns before marriage or personal earnings during marriage are considered as separated property. Uniform Marital Property（UMPA)，a marital law that was first passed by the Uniform Law Commissioners in 1983, [16] considered a family as an economic entity. Each spouse owns half of the ...
For her second marriage to Blake Shelton, ... “A week before we were getting married, Joe asked me to sign a prenup and I just felt when you love someone, you don’t do that,” Teresa then ...
The Uniform Marriage and Divorce Act §307 (UMDA §307) [3] also allows for the equitable distribution of property and lists factors the court should consider, e.g. "the duration of the marriage, and prior marriage of either party, antenuptial agreement of the parties [which is the same as a prenuptial agreement or premarital agreement], the ...