Management of Property

Question 1

Management of CP (Post-1973)

Answer 1

Each spouse has equal management and control of CP- either spouse acting alone may buy, sell, spend and encumber all CP. Exceptions: real property, personal property, business, bank account, and gifts.

Question 2

Fiduciary Duty

Answer 2

Each spouse shall act in good faith (full disclosure of all assets and debts; provide equal access to all info upon request) with respect to the other spouse in the management and control of CP until property has been divided by the parties or the CT