What is a non community property state mean?
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What is a non community property state mean?
In community property states, the assets of each spouse are considered assets of the marital unit. In non-community property states, on the other hand, the assets of the debtor spouse are separate from the other spouse unless both spouses are indebted to the same creditor.
What is the opposite of community property?
The specific community property laws in each state vary, but they all generally state that property obtained during the marriage is owned by both couples and is divided between the parties in a divorce, annulment, or death. Non-community property states follow equitable distribution rules.
Which states are non community property states?
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.