It may be depending on what your position is in the community. If you own a business in the community your reputation and goodwill can be considered intangible personal property.
It may be depending on what your position is in the community. If you own a business in the community your reputation and goodwill can be considered intangible personal property.
Property owned prior to marriage is not considered community property unless it was converted to community property by some action by the parties.Property owned prior to marriage is not considered community property unless it was converted to community property by some action by the parties.Property owned prior to marriage is not considered community property unless it was converted to community property by some action by the parties.Property owned prior to marriage is not considered community property unless it was converted to community property by some action by the parties.
If the property was purchased during the marriage it is community property if you live in a community property state.
Yes.Yes.Yes.Yes.
Property acquired prior to marriage is separate property and remains separate unless the spouse is granted on title and contributes to the mortgage payments from community funds, then they acquire an interest in that separate property in proportion to their contributions. Paying insurance taxes, utilities is not considered a basis to make the property community.
No. But the inheritance should always be kept separate and not co-mingled with marital property.
If you are married in a community property state, then yes, it is a community property. The mortgage is irrelevant - it is whose name on the deed that determines ownership.
Joint property is also considered to be community property. Florida is not one of the nine joint property states in the United States.?æ
In a community property state property purchased after marriage becomes the property of both parties.Community property rules govern in community property states. Property ownership is different in separate property statesand those rules allow a spouse to acquire separately owned property in some cases.
You do not necessarily have to be married to own jointly owned property and even when an individual is married for 60 years he could still keep property separate from his spouse. Property is considered jointly owned if you purchased it together (each contributing), your name is on the property, or in some situations when you are married and you have substantially contributed to the property. If your spouse has kept the property separate by keeping it in his name, only putting his money into it then it will be considered separate.
Inherited property is not generally considered community property. However, if the property is located in another state, the property laws in that state govern. For example, California is a community property state. If the married couple from California inherited land in massachusetts, that land would not be held as community property since Massachusetts is a separate property state. If the California wife purchased property in her own right in massachusetts it would not become community property of the marriage. Massachusetts law would govern the ownership of the property.
Generally, anything that a married couple accumulates during the marriage is considered community property, that is, both spouses own an undivided share of the whole. Community property courts start with a strong presumption that anything acquired during marriage is a community item, the spouse claiming a particular item is not community property has the burden of proving otherwise. The main areas of separate property are those items acquired before marriage, items received as a gift through a will or by inheritance, and those properties purchased with separate property funds.
depends on the state