Community property

Question 1

Presumptions real estate death or divorce

Answer 1

Death - title reflects ownership interest

Divorce - jointly held property is CP unless clear/convincing evidence others by clear statement in deed or writing

Question 2

Control and management of property

Answer 2

Equal management of control of personal property except 1 name bank account

Gift must have written consent, other spouse can ratify or revoke.

After gifting parties death, spouse can ratify or void 1/2 value.
Property and business requires both spouses consent

Question 3

Control of title one spouse

Answer 3

Remember, if both alive title in one name gives no presumption

If sold to BFP, BFP is protected but community mag be reimbursed.

Question 4

Fiduciary duty

Answer 4

Highest duty of good faith with regard to property

Breach is gross negligence or above

Question 5

Joint titles

Answer 5

Determined by title of property during marriage but CP on divorce, unless writing states to contrary

Property bought with CP and SP funds
Lucas - before 1984, funds presumed gift
Anti-Lucas - after 1984, can rebut that property is jointly held if statement in deed or other righting. Spouse making SP contribution has right to reimbursement

Question 6

CP used to improve SP

Answer 6

CP is either reimbursed or gets pro rata interest in SP - only includes principal, no taxes Or insurance

Question 7

Capital improvements

Answer 7

Since 2005 is SP used to improve other SP, reimbursement without interest

SP to improve CP - available after 1984, not before

CP to improve SP - community entitled to reimbursement or enhanced value of property

Question 8

Prenup

Answer 8

In writing
Party advised to get lawyer or waived in separate writing
Wait 7 days
Explanation of all material terms certified

Unconscionable- failure to disclose asset info

Spousal support - MUST HAVE LAWYER, unconscionable possible at time of divorce if too lopsided