community property

community property
community property see property

Merriam-Webster’s Dictionary of Law. . 1996.

community property
Property owned equally by husband and wife, with all earnings divided equally between spouses; the form of marital property distribution used by a minority of states. See also equitable distribution, marital property

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.

community property
in some of the states of the USA and elsewhere in the world, there is a form of implied partnership in the profits resulting from a marriage. Premarital property remains the individual property of each party, but property acquired during the marriage is common property.

Collins dictionary of law. . 2001.

community property
A method of defining the ownership of property acquired during marriage, in which all earnings during marriage and all property acquired with those earnings are owned in common and all debts incurred during marriage are the responsibility of both spouses. Typically, community property consists of all property and profits acquired during marriage, except property received by inheritance, gift, or as the profits from property owned before marriage. Community property laws exist in Arizona, California, Idaho, Nevada, New Mexico, Texas, Washington, and Wisconsin. In Alaska, couples can create community property by written agreement. (See also: separate property, equitable distribution)
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Nolo’s Plain-English Law Dictionary. . 2009.

community property
The holdings and resources owned in common by a husband and wife.

Dictionary from West's Encyclopedia of American Law. 2005.

community property
The holdings and resources owned in common by a husband and wife.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

community property
   property and profits received by a husband and wife during the marriage, with the exception of inheritances, specific gifts to one of the spouses, and property and profits clearly traceable to property owned before marriage, all of which is separate property. Community property is a concept which began in Spain to protect rich women from losing everything to profligate husbands, and is only officially recognized in some states which were once under or influenced by Spanish or Mexican control, including California, Arizona, New Mexico, Texas, Nevada, Idaho, Washington and Louisiana. Community property recognizes the equal contribution of both parties to the marriage even though one or the other may earn more income through employment. By agreement or action the married couple can turn (transmute) separate property into community property, including by commingling community and separate funds in one account. Community property is recognized based on fact or agreement of the parties, rather than holding of title. The state courts have wavered on what constitutes proof of community property, including the issue of whether joint tenancy is evidence of community property or not. Upon divorce community property is divided equally without regard to fault. Upon the death of one spouse all the community property goes to the other except in Texas surviving children get one half and in obvious sexual discrimination Nevada and New Mexico allow the husband to will a half to someone other than his wife.

Law dictionary. . 2013.

Look at other dictionaries:

  • community property — Property owned in common by husband and wife each having an undivided one half interest by reason of their marital status. The nine states with community property systems are Louisiana, Texas, New Mexico, Arizona, California, Washington, Idaho,… …   Black's law dictionary

  • community property — ☆ community property n. in certain states of the U.S., property acquired by a husband or wife, or by both, during marriage and consequently owned in common by both …   English World dictionary

  • Community property — For the Steel Panther song, see Feel the Steel. Community property is a marital property regime that originated in civil law jurisdictions and is now also found in some common law jurisdictions. The states of the United States that recognize… …   Wikipedia

  • community property — U.S. Law. (in some states) property acquired by a husband, wife, or both together, that is considered by law to be jointly owned and equally shared. [1920 25] * * * Property held jointly by a husband and wife. In states having a community… …   Universalium

  • Community Property — A U.S. state level legal distinction of a married individual s assets. Property acquired by either spouse during the course of a marriage is considered community property. For example, an IRA in the name of an individual with a spouse,… …   Investment dictionary

  • community property — A system, derived by several states through adoption or succession from the Spanish, Mexican, or French law, relative to property rights of husband and wife, the essential principle of which is that the earnings of either spouse by his or her… …   Ballentine's law dictionary

  • community property — noun property and income belonging jointly to a married couple • Hypernyms: ↑property, ↑belongings, ↑holding * * * comˌmunity ˈproperty 7 [community property] noun …   Useful english dictionary

  • community property —  Assets of a married couple belonging to both people. Divorce laws vary in the United States, with some states being community property states …   American business jargon

  • community property — com munity .property n [U] law property that is considered to be owned equally by both a husband and wife in US law …   Dictionary of contemporary English

  • community property — com munity ,property noun uncount LEGAL the idea that property owned by either a husband or wife is considered to be owned equally by both …   Usage of the words and phrases in modern English

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