Community Property
/ˈkɒm.jə.nɪ.ti ˈprɑː.pɚ.ti/
Definitions
- (n.) A marital property regime under which most property acquired during the marriage is owned jointly by both spouses.
In community property states, income earned by either spouse during the marriage is considered community property.
Related terms
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Commentary
Community property laws vary by jurisdiction, requiring precise identification of state or national rules when drafting related agreements.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.