Community Property Laws

Community property laws are legal guidelines in some states that dictate how assets and debts are owned between married couples. Under these laws, most property acquired during the marriage is considered jointly owned by both spouses, regardless of who earned it or whose name is on the title. This means that if a couple divorces, the community property is usually divided equally. However, property acquired before marriage or received as a gift or inheritance is typically considered separate property and not subject to division. The goal is to ensure fairness and equitable distribution of marital assets.