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California Supplement to Bar Exam > California Community Property > Flashcards

California Community Property Flashcards

1
Q

Community property (California)

A

Assets and debts acquired during marriage that are owned equally by both spouses.

Example: A house purchased during marriage with joint funds is considered community property.

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2
Q

Separate property (California)

A

Property owned by one spouse before marriage or acquired by gift, bequest, or inheritance.

Additional information: Separate property is not subject to division upon divorce.

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3
Q

Quasi-community property (California)

A

Property acquired while living in a non-community property state that would have been community property if acquired in California.

Example sentence: Property acquired in New York but would be community property in California.

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4
Q

Commingled property (California)

A

Property that contains both separate and community property funds.

Example: Bank account with funds from both spouse’s salaries and inheritance.

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5
Q

Tracing (California)

A

Method used to identify the source of funds to determine property characterization.

Explanation: Tracing is used to distinguish between separate and community property.

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6
Q

Community property presumption (California)

A

Assumption that property acquired during marriage is community property unless proven otherwise.

Legal principle: The burden of proof is on the party claiming separate property.

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7
Q

Management and control (California)

A

Both spouses have equal rights to manage and control community property.

Explanation: Each spouse has the authority to make decisions regarding community assets.

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8
Q

Fiduciary duty (California)

A

Spouses must act in the highest good faith and fair dealing with respect to community property.

Legal obligation: Spouses must prioritize the interests of the marital partnership.

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9
Q

Transmutation (California)

A

Process of changing the characterization of property from separate to community or vice versa.

Requirement: Transmutations must be in writing to be valid.

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10
Q

Premarital agreement (California)

A

Contract entered into before marriage outlining property rights and obligations.

Enforceability: Premarital agreements must be fair and reasonable to be upheld in court.

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11
Q

Community property reimbursement (California)

A

Right to repayment for separate property contributions to community property.

Example: Reimbursement for using separate funds to pay off a mortgage on a community property home.

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12
Q

Division of property at divorce (California)

A

Equal division of community property between spouses upon divorce.

Legal requirement: Community property is typically split 50/50 in a divorce.

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13
Q

Post-separation earnings (California)

A

Income earned by a spouse after separation, considered separate property.

Treatment: Earnings after separation are not subject to community property laws.

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14
Q

Date of separation (California)

A

The date when a complete and final break in the marital relationship occurs.

Legal significance: Date of separation impacts property division and characterization.

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15
Q

Community property business (California)

A

Business operated during marriage considered community property.

Ownership: Both spouses have an interest in the business and its assets.

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16
Q

Separate property business (California)

A

Business owned by one spouse before marriage or acquired with separate property funds.

Example: A business started by one spouse before the marriage.

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17
Q

Goodwill (California)

A

Intangible asset representing the reputation of a business, considered community property if earned during marriage.

Valuation: Goodwill may be subject to division in a divorce.

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18
Q

Educational degrees (California)

A

Degrees and licenses are separate property, but the community may be reimbursed for contributions to education.

Reimbursement claim: Spouse may seek reimbursement for educational expenses paid with community funds.

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19
Q

Stock options (California)

A

Characterized based on when they were awarded and vested, either as community or separate property.

Treatment: Stock options may be subject to division in divorce depending on vesting and award date.

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20
Q

Retirement benefits (California)

A

Pension and retirement benefits earned during marriage are community property.

Division: Retirement benefits accumulated during marriage are typically split equally.

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21
Q

Disability benefits (California)

A

Benefits characterized based on whether they replace earnings during marriage or after separation.

Treatment: Disability benefits received during marriage are usually considered community property.

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22
Q

Life insurance (California)

A

Proceeds from a policy paid for with community funds are community property.

Ownership: Life insurance benefits purchased with joint funds are considered community property.

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23
Q

Personal injury awards (California)

A

Characterized based on when the cause of action arose, either as community or separate property.

Example: Damages for personal injury occurring during marriage may be community property.

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24
Q

Debt liability (California)

A

Community estate is liable for debts incurred by either spouse during marriage.

Responsibility: Both spouses may be responsible for debts acquired during the marriage.

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25
Marital agreements (California)
Contracts made during marriage altering property rights, must be in writing and meet certain requirements. ## Footnote Validity: Marital agreements must comply with legal standards to be enforceable.
26
Spousal consent (California)
Requirement for both spouses to agree on significant transactions involving community property. ## Footnote Protection: Spousal consent ensures both parties are aware of and approve major financial decisions.
27
Community property inheritance (California)
Rules for distributing property upon death of a spouse. ## Footnote Survivorship: Community property may pass directly to the surviving spouse upon death.
28
Community property tax implications (California)
Tax effects on transfers and division of community property. ## Footnote Consideration: Tax consequences must be taken into account when dividing community assets.
29
Separate property improvements (California)
Characterization of enhancements to separate property using community funds. ## Footnote Example: Renovations to a separate property home paid for with joint funds.
30
Credit acquisitions (California)
Characterization based on the intent of the lender, whether relying on community or separate property. ## Footnote Clarification: Creditors' intentions determine how debts are classified in a divorce.
31
Characterization of property (California)
Process of determining if property is community, separate, or mixed. ## Footnote Legal analysis: Property characterization is crucial in dividing assets during divorce.
32
Time of acquisition (California)
Determines property characterization based on when the property was acquired. ## Footnote Significance: Timing of acquisition can impact property rights and division.
33
Title presumption (California)
Legal assumption regarding property ownership based on how title is held. ## Footnote Presumption: Title presumption may influence property division in certain cases.
34
Presumption of undue influence (California)
Arises when one spouse gains an advantage in a property transaction. ## Footnote Legal protection: Presumption of undue influence safeguards against unfair property transactions.
35
Property management (California)
Rules governing how spouses manage and control community property. ## Footnote Responsibility: Spouses must adhere to legal guidelines when managing community assets.
36
Community property dissolution (California)
Division of community property upon death or divorce. ## Footnote Outcome: Community property dissolution involves distributing assets according to legal requirements.
37
Putative spouse (California)
Person who believes in good faith they are in a valid marriage, entitled to community property rights. ## Footnote Claim: A putative spouse may seek property rights even if the marriage is later found to be invalid.
38
Intestate succession (California)
Distribution of property when a spouse dies without a will. ## Footnote Default distribution: Without a will, California law determines how property is distributed.
39
Surviving spouse rights (California)
Entitlements of the surviving spouse to community and separate property. ## Footnote Protection: Surviving spouse has legal rights to certain assets upon the other spouse's death.
40
Quasi-marital property (California)
Property treated similarly to community property, acquired during a putative marriage. ## Footnote Legal status: Quasi-marital property may be subject to division as if it were community property.
41
Spousal property petition (California)
Legal request to determine ownership rights in community property after a spouse's death. ## Footnote Procedure: Spousal property petition is used to clarify property rights in case of dispute.
42
Right of survivorship (California)
Community property that automatically passes to the surviving spouse. ## Footnote Beneficiary: Survivorship rights ensure seamless transfer of assets to the surviving spouse.
43
Joint tenancy (California)
Property held jointly by spouses, with survivorship rights, but treated differently than community property. ## Footnote Ownership: Joint tenancy provides survivorship rights but may not be subject to community property laws.
44
Transmutation by agreement (California)
Spouses' agreement to change the character of property, requiring written documentation. ## Footnote Formality: Transmutations by agreement must be properly documented to be legally binding.
45
Fiduciary breach remedies (California)
Legal actions available when a spouse breaches fiduciary duties in managing community property. ## Footnote Protection: Fiduciary breach remedies aim to hold accountable spouses who violate their duties.
46
Separate debt liability (California)
Rules governing responsibility for debts incurred before or during marriage. ## Footnote Liability: California law distinguishes between separate and community debt obligations.
47
Marvin action (California)
Claim by cohabitants to enforce property and support agreements. ## Footnote Legal recourse: Marvin actions allow unmarried partners to seek property rights similar to married couples.
48
Date of separation significance (California)
Importance in ending the community property period and affecting property characterization. ## Footnote Impact: Date of separation can influence property division and financial obligations.
49
Post-divorce creditor rights (California)
Creditors' ability to reach property awarded to a spouse in divorce. ## Footnote Enforcement: Creditors may pursue assets awarded to a spouse in a divorce settlement to satisfy debts.
50
Property partition at death (California)
Process of dividing community property upon the death of a spouse. ## Footnote Distribution: Property partition at death involves determining how community assets are distributed.
51
Domestic partnership (California)
Legal relationship granting community property rights similar to marriage. ## Footnote Recognition: Domestic partners in California have similar property rights as married couples.
52
Void and voidable marriages (California)
Impact on property rights and division when a marriage is invalid. ## Footnote Legal status: Void and voidable marriages may affect property ownership and division.
53
Property insurance (California)
Characterization of insurance proceeds. ## Footnote Treatment: Insurance proceeds may be classified as separate or community property based on the policy's ownership.
54
Separation significance (California)
Importance in ending the community property period and affecting property characterization. ## Footnote Example sentence: Understanding the separation significance in California is crucial for determining the division of property in a divorce.
55
Post-divorce creditor rights (California)
Creditors' ability to reach property awarded to a spouse in divorce. ## Footnote Example sentence: Post-divorce creditor rights in California can impact the division of assets between former spouses.
56
Property partition at death (California)
Process of dividing community property upon the death of a spouse. ## Footnote Example sentence: Property partition at death in California involves distributing assets according to state laws.
57
Domestic partnership (California)
Legal relationship granting community property rights similar to marriage. ## Footnote Example sentence: Domestic partnership in California provides couples with similar property rights as married couples.
58
Void and voidable marriages (California)
Impact on property rights and division when a marriage is invalid. ## Footnote Example sentence: Void and voidable marriages in California can complicate property division during a divorce.
59
Property insurance (California)
Characterization of insurance proceeds based on the source of premium payments. ## Footnote Example sentence: Property insurance in California may impact property division based on how premiums were paid.
60
Management of community business (California)
Rules for the spouse managing a community-owned business. ## Footnote Example sentence: Understanding the management of a community business in California is essential for smooth operations.
61
Retirement benefit valuation (California)
Determination of the value of retirement benefits for property division. ## Footnote Example sentence: Retirement benefit valuation in California is crucial for accurately dividing assets during a divorce.
62
Community property with survivorship (California)
New title form ensuring property passes to the surviving spouse without probate. ## Footnote Example sentence: Community property with survivorship in California simplifies the transfer of assets to a surviving spouse.
63
Gift exclusion (California)
Exception allowing certain gifts between spouses without formal transmutation. ## Footnote Example sentence: Gift exclusion in California permits spouses to exchange gifts without affecting property rights.
64
Business goodwill valuation (California)
Methods for valuing business goodwill as community property. ## Footnote Example sentence: Business goodwill valuation in California is essential for determining the worth of shared business assets.
65
Separate property mutation (California)
Change in the form of property without changing its characterization. ## Footnote Example sentence: Separate property mutation in California can occur when property undergoes a change in ownership.
66
Educational contribution reimbursement (California)
Community right to repayment for contributions enhancing a spouse's earning capacity. ## Footnote Example sentence: Educational contribution reimbursement in California allows spouses to seek repayment for career-enhancing investments.
67
Living separate and apart (California)
Old standard for ending the community property period, now replaced by the date of separation. ## Footnote Example sentence: Living separate and apart was an old standard in California for determining the end of the community property period.

California Supplement to Bar Exam (8 decks)

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