How do community property states work?
How do community property states work?
Community property states follow the rule that all assets acquired during the marriage are considered "community property." Marital property in community property states are owned by both spouses equally (50/50). In other words, that spouse cannot be alienated the one half that belongs to them.
Which states do not have community property?
Most states are not and are considered equitable distribution states where property is distributed fairly, but not necessarily equally. There are nine community property states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin.
Which states are separate property states?
Separate property is considered anything held in only one spouse's name, including property owned before marriage, given as a gift, or inherited. The states that observe this law are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin.
What are marital property states?
Marital property states are those states that follow certain principles for dividing property in a divorce. Also known as “community property” states, these rules usually split marital property evenly between spouses upon divorce. Other property (separate property) is retained by its owner after the divorce.
