Community Property

Front 1

PERSONS W/ CP SYSTEM

Back 1

(1) Lawfully Married Persons
(2) Domestic Partners
(3) Common Law Marriages
(4) Putative Spouses

Front 2

COMMUNITY PROPERTY PRESUMPTION -
Time & Source of Acquisition

Back 2

Property acquired during the marriage and temporary separation is presumptively CP. e.g., assets from CP income, salary/wages of spouse.

Front 3

QUASI-MARITAL PROPERTY (QMP)

Back 3

Property acquired during the marriage of a putative spouse.

All property that would be CP or QCP had the marriage been valid is labeled as QMP.

Parties will have the same rights in QMP as they would have in CP or QCP.

Front 4

SEPARATE PROPERTY (SP) -
Time of Acquisition

Back 4

Property acquired before the marriage, during permanent separation, and after death of spouse is SP.

Front 5

SEPARATE PROPERTY (SP) -
Source of Acquisition

Back 5

SP proponent can overcome CP presumption by showing
(1) property was received by gift or bequest,
(2) property is from income of SP, or
(3) property acquired in exchange of SP.

Front 6

SEPARATE PROPERTY (SP) -
Permanent Separation

Back 6

(1) Physical Separation and
(2) One spouse no longer wants to continue the marital relationship.

Front 7

QUASI-COMMUNITY PROPERTY (QCP)

Back 7

Property acquired in a non-CP state by either spouse that would have been CP had they been domiciled in CA at the time of acquisition.

Front 8

QUASI-COMMUNITY PROPERTY (QCP) -
Marriage

Back 8

Generally Rule: QCP is treated ast the acquiring spouse's SP.

Exception: For purposes of creditors rights, QCP is treated as CP.

Front 9

QUASI-COMMUNITY PROPERTY (QCP) -
Divorce

Back 9

QCP is treated as CP.

Front 10

QUASI-COMMUNITY PROPERTY (QCP) -
Death

Back 10

At the death of the acquring spouse, the non-acquiring spouse has a 1/2 interest in the QCP. But not vice versa.

Front 11

OUT OF STATE REALTY ACQUIRED BY CALIFORNIANS

Back 11

All property, wherever situated, acquired by a married person during marriage while domiciled in CA is CP.

Front 12

ACTIONS OF THE PARTIES -
Premarital Agreement (The Requirements)

Back 12

General Rule: Must be in writing signed by both parties.

Exception: Oral agreement can be enforced if (1) promisor actually performed the promise or (2) the promisee deterimentally relied on the agreement.

Front 13

ACTIONS OF THE PARTIES -
Premarital Agreement (Validity of Provisions)

Back 13

Limitation or waiver of property rights are enforceable.

Limitation or waiver of support is unenforceable.

Front 14

ACTIONS OF THE PARTIES -
Premarital Agreement (Validity of Agreement)

Back 14

Unenforceable if it promotes divorce.

Unenforceable it is was signed involuntarily unless (1) party represented by counsel / waived representation in separate agreement and (2) party given 7 days to sign between being presented with agreement and the signing. * Party Unrepresented by Counsel: Party must be fully informed of terms, effect of agreement, and rights/obligations. Party must also must execute a document declaring that he received the info and identify who provided info.

Agreement unenforceable if (1)unconscionable when executed, (2) no fair, reasonable, and full disclosure of other party's assets and debts, (3) right to disclosure was no waived in writing, and (4) party seeking avoidance of agremeent had no adequate knowledge of other party's assets and debts.