In California, one of the biggest concerns when a couple ends a marriage is how property will be divided. There is often a dispute over property obtained during a marriage and who is entitled to it. For couples embroiled in this type of disagreement, it is important to understand how the law addresses these considerations.
While community property relates to property that the couple acquired after they were married and separate property is for property that was owned by either side before the marriage, quasi-community property might not be so easily understood. For those whose property falls into this category, it is important to know how this will impact their case and what can be done about it.
Anything that the couple owns together is community property. Generally, this will be items that were bought or acquired after they were married or in a domestic partnership. It includes debt. If it was an inheritance or a gift to one of the spouses, it is not considered community property. Earnings also fall into the category of community property. With this aspect of property division, anything that the couple purchased after the marriage will be shared 50-50. Debt will also be split evenly. Quasi-community property is different.
If there is property that was acquired by either or both when they resided in a different state and, if it had been acquired in California would have been community property, then it will be quasi-community property. For example, if there was a residence that was purchased in New York after they were married and they subsequently moved to California, it will be quasi-community property and treated as community property, split between the two when they dissolve the marriage.
Since many properties can be lucrative, it is often a foundation for dispute as to which spouse has a right to claim it when they divorce. For help with complex property division of this kind, the parties must have legal assistance. A law firm that understands all areas of property division should be contacted for guidance and assistance to determine how to proceed with quasi-community property.