community property (Meaning)
Wordnet
community property (n)
property and income belonging jointly to a married couple
Synonyms & Antonyms of community property
No Synonyms and anytonyms found
community property Sentence Examples
- In community property states, assets acquired during marriage are considered community property.
- Community property laws vary from state to state, with some states adopting a community property regime.
- Under community property rules, both spouses have an equal ownership interest in marital assets.
- Dividing community property during divorce proceedings can be complex, especially in cases involving significant assets.
- Community property includes income earned by either spouse during the marriage, as well as assets purchased with that income.
- Debts incurred during the marriage may also be considered community property in some jurisdictions.
- Community property laws aim to ensure fair distribution of assets and debts upon divorce.
- In community property states, spouses may be required to obtain consent from their partner before making significant financial decisions.
- Upon the death of one spouse, community property typically passes to the surviving spouse unless otherwise specified in a will.
- Community property laws provide legal guidelines for dividing assets and liabilities in the event of divorce or death.
FAQs About the word community property
property and income belonging jointly to a married couple
No synonyms found.
No antonyms found.
In community property states, assets acquired during marriage are considered community property.
Community property laws vary from state to state, with some states adopting a community property regime.
Under community property rules, both spouses have an equal ownership interest in marital assets.
Dividing community property during divorce proceedings can be complex, especially in cases involving significant assets.
