Quasi-Community Property Flashcards
1
Q
Quasi-Community Property (Definition)
A
Quasi-Community Property is property acquired by one of the spouses that would have been community property had the spouse been domiciled in California or any other community property state at the time of the acquisition. Until divorce or death, the QCP remains the separate property of the acquiring spouse. At divorce or death the acquiring spouse, as well as for purposes of creditors’ rights, QCP is treated the same as CP.
2
Q
Items Can Be Community Property
A
(1) Pensions, stock bonuses, and options
(2) personal injury damages
(3) disability pay
(4) business valuation; business goodwill
(5) education and training
(7) Credit Acquisition
