Definitions for community property
com·mu·ni·ty prop·er·ty

Princeton's WordNetRate this definition:0.0 / 0 votes

1. community propertynoun

   property and income belonging jointly to a married couple

WikipediaRate this definition:0.0 / 0 votes

1. Community property

   Community property (United States) also called community of property (South Africa) is a marital property regime that originated in civil law jurisdictions but is now also found in some common law jurisdictions.. Community of property regimes can be found in countries around the world including Sweden, Germany, Italy, France, South Africa and parts of the United States. In civil law countries such as Spain, France and Germany, spouses can generally select one of several matrimonial regimes to divide property, with community property being one option, along with the separate property system and a participation system.Under community property regimes, 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 between the spouses in the event of divorce. In some cases, separate property can be "transmuted" into community property, or be included in the marital estate for reasons of equity.

ChatGPTRate this definition:0.0 / 0 votes

1. community property

   Community property is a legal concept that applies in certain jurisdictions, primarily in the western United States. It refers to the law that dictates how marital property is divided between spouses during divorce or death. Under community property law, all assets and debts acquired during the marriage are considered jointly owned, with each spouse having an equal share. This includes income earned, property bought, and debts incurred while married. This does not apply to properties or assets acquired before marriage or obtained as a gift or inheritance individually during the marriage.

WikidataRate this definition:0.0 / 0 votes

1. Community property

   Community property is a marital property regime that originated in civil law jurisdictions and is now also found in some common law jurisdictions. The states of the United States that recognize community property are primarily in the West; it was inherited from Mexico's ganancial community system, which itself was inherited from Spanish law and ultimately from the Visigoths. While under Spanish rule Louisiana adopted the ganancial community system of acquests and gains, which replaced the traditional French community of movables and acquests in its civil law system. In a community property jurisdiction, most property acquired during the marriage —the community, or communio bonorum—is owned jointly by both spouses and is divided upon divorce, annulment or death. Joint ownership is automatically presumed by law in the absence of specific evidence that would point to a contrary conclusion for a particular piece of property. Division of community property may take place by item, by splitting all items or by value. In some jurisdictions, such as California, a 50/50 division of community property is strictly mandated by statute, meaning that the focus then shifts to whether particular items are to be classified as community or separate property. In other jurisdictions, such as Texas, a divorce court may decree an "equitable distribution" of community property, which may result in an unequal division of such. 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. See division of property. Division of community debts may not be the same as division of community property. For example, in California, community property is required to be divided "equally" while community debt is required to be divided "equitably".

Matched Categories

1. • Property

How to pronounce community property?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say community property in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of community property in Chaldean Numerology is: 9

2. Pythagorean Numerology

   The numerical value of community property in Pythagorean Numerology is: 5

Examples of community property in a Sentence

1. Sarah Goodfriend:

   Financially now, we're intertwined, and we will have community property that we will share.

2. Lynda Sheridan:

   Keep in mind most of these properties were probably acquired before marriage, so only if both parties are on title do I believe there will be contentions of joint ownership, the Community property presumption applies to assets and property acquired during marriage.

3. Oakland Police Department -RRB- Watson:

   Whether thats your purse, your wallet, your phone, your laptop. Not worth getting injured or possibly losing your life over it, we want to remind our community, property can be replaced but you can not.

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=community property
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Community_Property
3. ^ ChatGPT
   https://chat.openai.com
4. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=community property