community property vs. equitable distribution

Community property and equitable distribution are two methods states use to divide property during divorce. Community property states (like California) generally view assets acquired during marriage as jointly owned, so they're split 50/50. Equitable distribution states (like New York) aim for a fair, though not necessarily equal, division based on factors like income, contributions, and needs. The key difference is that community property emphasizes equal ownership, while equitable distribution considers fairness, which may result in unequal shares.