Terminology Out of Community of property Flashcards
1
Q
Marriage out of community
of property
A
1) Generally speaking, two separate estates are created and each spouse administers his own estate for the duration of the marriage.
2
Q
Accrual system
A
The system that allows spouses to share in each other’s accrual at dissolution of their marriage
3
Q
Accrual claim
A
1) The amount the spouse with the lesser accrual can claim against the other spouse in terms of the
accrual system
4
Q
Net value of estate
A
Assets minus liabilities
5
Q
Commencement value
A
Value of estate at conclusion of union.
6
Q
End value
A
Value of estate at dissolution of union
7
Q
Accrual of an estate
A
The difference between the end and
commencement values of a spouse’s estate.
