Division and Distribution of Community Property Flashcards
Divorce
At divorce, the community assets will be equally divided unless a special situation requires deviation from this requirement
Real Property Outside of California
If it is not possible for the court to divide real property located outside the state, the court can require the parties to convey the real property or award to the party that would have benefitted from the conveyance the equivalent money value they would have received had the property been conveyed.
Two Marriage division
If a spouse is marinating two marriages, courts will divide assets equally between participants or divide equally between non-guilty participants. Courts are jurisdictionally split regarding allowing the guilty party to benefit from his wrongdoing; some allow it and some don’t.
Death
Upon death, one-half of the CP and QCP belongs to the surviving spouse and one-half belongs to the decedent’s estate
Devise
The decedent can devise all his SP and one-half of the CP and QCP
Exception: At death, the surviving spouse has a one-half interest in QCP titled in the decedent’s name. However, the decedent does not have an interest in the QCP titled to the survivor’s name
Election of the Surviving Spouse
If the decedent died with a will and tried to dispose of more than his half of CP, the surviving spouse will need to make an election between their CP rights without the will or take under the will in lieu of their CP rights
Intestacy
If the decedent dies intestate, the surviving spouse is automatically entitled to the decedent’s share of the CP and QCP, and to 1/3 of all the decedent’s SP (depending on whether the decedent left issue or surviving parents)