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6 Cards in this Set
- Front
- Back
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What is separate property (SP)?
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- prpty owned before marriage
- prpty gained by gift/will/ inheritance (except in exchange of C labor) - prpty paid with SP - rents, gains, captial of SP |
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What is the general presumption regarding property held by H+W in a marriage?
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That it is CP
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What is Community property (CP)?
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All property that is aquired during marriage. (that doesnt fall into the SP exceptions)
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When does the community end?
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Two prong test:
1. living separate and apart 2. no intent to resume martial relastionship |
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When CP is acquired during marriage and proceeds come
after marriage, what is the classification of those proceeds? |
CP
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How is CP divided upon divorce?
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Eqaully, UNLESS economic circumstances warrant awarding whole assets to one spouse. (still need 50/50 CP split total)
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