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Last Updated: Jul 5th, 2004 - 01:10:29 |
Community Property
A Brief Explanation of "Community Property"
There are at least two types of state schemes for the division of marital property at the time of divorce or death. One of these types is called "equitable distribution", by which the Court is supposed to look at the whole picture of the family's assets, debts, and resources, and determine what the most equitable division of each, or the total taken as a whole, would be. Another type of distribution scheme is that of "community property", such as you have in California and other states.
Jul 5, 2004, 01:08
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