Property Division

How are properties divided?

Division of Community Property - California law states that all property acquired by either party during the marriage is "community property." Property received by gift or inheritance is not "community property." Community Property means that each party owns the property equally; in other words: 50-50. This rule applies regardless of who actually earned or received the property.

Even though you both own the property equally, the rule does not require that each asset be physically split in half; only that each party receive one-half of all (the total) community property obtained during the marriage. The court will work to ensure that both parties obtain their fair 50-50 share of the total value of the community property.

This same 50-50 rule applies to debts of the community and future assets (for example, retirement benefits).

An important part of a case is identifying and determining a value for each asset. One party may want to undervalue an asset while the other party may want to overvalue the same asset. In many cases, an appraiser must be hired to give his or her expert opinion regarding an asset's valuation.

Keep in mind that there are numerous exceptions to all of the above rules. Competent legal advice will inform you which rules may apply to your case and your property.

If you would like to discuss your case with one of our experienced attorneys then Contact Us today.