Family Law Cases: Divorce, Child Support, Property Divison
It is quite important to determine the community property and the separate property interest for each and every item that you and your spouse have an interest. As an example, the family residence may be 90% community property and 10% separate property of one spouse. The characterization of the items and the percentage of either community property or separate property is a fact-based analysis and each and every item must be analyzed. The Law Office of David C. Stone will do everything in its power to achieve an equitable Community Property rulings during a divorce.
Community Property is defined in Family Code §760 wherein the code states, “Except as otherwise provided by statute, all property, real or personal, wherever situated, acquired by a married person during the marriage while domiciled in this state is community property.” Therefore, community property is the property acquired by a married couple during the marriage. The marriage is from the date of marriage to the date of separation or divorce.
One of the most important issues in the division of property is to characterize each and every item as either separate property of one party or community property of both parties. Community Property also includes Quasi-Community Property.
Quasi-Community property is defined in Family Code §125, which states, ‘Quasi-community property’ means all real or personal property, wherever situated, acquired before or after the operative date of this code in any of the following ways:
- By either spouse while domiciled elsewhere which would have been community property if the spouse who acquired the property had been domiciled in this state at the time of its acquisition.
- In exchange for real or personal property, wherever situated, which would have been community property if the spouse who acquired their property so exchanged had been domiciled in this state at the time of its acquisition.