Lesson 1 Flashcards
Community Property
Except as otherwise provided by statute, all property, real or personal, wherever situated, acquired by a married person during the marriage, while domiciled in this state is community property. California Family Code, Section, 760.
Context of Community Property Problems (4)
- Management and control of property during the marriage.
- Rights of third parties to property owned by one or both spouses.
- Disposition of property upon the termination of the marriage when one spouse dies.
- Rights to property owned by a married couple when that marriage ends in divorce.
Separate Property
1 All property owned before marriage,
2 Property acquired after the termination of
the marriage, and
3 property acquired during the marriage by gift, bequest, devise or descent, together with the rents, issues, and profits thereof is separate property.
Quasi-community property
All property acquired by either spouse while domiciled outside California which would have been community property if the spouse who acquired the property had been domiciled in California at the time of its acquisition is quasi-community property.
Married Woman’s Presumption
A woman who by a written instrument obtains title to property in her name before 1975 is presumed to hold that property as her own separate property.