Does getting married change who owns your home?
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Does getting married change who owns your home?
It depends on when your spouse acquired the property and where you live. In California, all property bought during the marriage with income that was earned during the marriage is deemed "community property." The law implies that both spouses own this property equally, regardless of which name is on the title deed.
How does separate property become marital property?
Transmutation is a term used in family law to describe property that has been transformed from a party's separate property into marital property. A spouse's separate property includes all property he or she owned prior to the marriage, acquired by gift from a third-party during the marriage, or received by inheritance.
Are separate bank accounts considered marital property?
The law is actually very clear on this point: all property accumulated during the marriage is presumptively marital property. So, even if spouses keep separate accounts and pay bills separately, all income and property accumulated during the marriage is still considered a marital asset subject to division.
How long you have to be married to get half of everything?
Divorce After 10 Years of Marriage The amount of spousal support is not equal to half of the paying spouse's wages. It is instead determined based on each spouse's income and living expenses and a host of other factors. Click here to read more about spousal support in California.
