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6 Cards in this Set

  • Front
  • Back
What is separate property (SP)?
- 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
What is the general presumption regarding property held by H+W in a marriage?
That it is CP
What is Community property (CP)?
All property that is aquired during marriage. (that doesnt fall into the SP exceptions)
When does the community end?
Two prong test:
1. living separate and apart
2. no intent to resume martial relastionship
When CP is acquired during marriage and proceeds come
after marriage, what is the classification of those proceeds?
How is CP divided upon divorce?
Eqaully, UNLESS economic circumstances warrant awarding whole assets to one spouse. (still need 50/50 CP split total)