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Is money earned from a portfolio of stocks owned before a marriage considered community property?
In community property states there are exceptions to the general rule that items are classified as community property. The following are the most common types of assets that are exceptions to the community property rule:
* Assets acquired before marriage
* Assets acquired as a personal gift
* Assets acquired through inheritance
So the stock portfolio and the income derived from it is separate property until you actively do something to make it community.
What else can I help you with?
What if you live in a community property state and on spouse owned property before the marriage if they divorce what are the spouses rights?
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 property is purchased in your husbands name only is it considered community property?
If the property was purchased during the marriage it is community property if you live in a community property state.
If property acquired after marriage in a community property state considered to be community property if a loan is taken against the property.?
Yes.Yes.Yes.Yes.
Is property owned before marriage considered community property?
Property owned before marriage is typically considered separate property, not community property. However, laws regarding property ownership can vary by state, so it's important to consult with a legal professional for specific advice.
Is property acquired after a marriage considered community property in a non community property state such as Illinois?
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.
In a community property state is property inherited after marriage considered community property?
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.
What is considered community 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.
Is a husband entitled to his wife's property that she acquired prior to their marriage in Texas?
Generally, no. Texas is a community property state. Generally, any property acquired prior to marriage, and maintained as separate property during the marriage, is not considered community property. For more detailed advice you should consult with an attorney who specializes in divorce law.
What does community property state mean?
The term community property state means that the community property in a marriage divided equally between the two parties when there is a divorce. This property usually does not include property owned before the marriage.
Is Georgia a community property state?
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. There are some defined areas that do not fall under community property: separate property acquired before marriage or during marriage using separate property funds, items acquired as a gift, in a will, or as inheritance, and the rents and profits received from separate property.
If you are unemployed and being sued can they come after your spouse in any way?
Yes, they can. You and your spouse are legally a single financial entity. Any property acquired by your spouse after your marriage is community property, with you having an equal interest. The only property not considered community property would be what your spouse owned prior to your marriage.
If you owned your property prior to marriage will your ex be entitled to any part of it after a 6 month marriage?
No, community property refers only to that property that is gained during the marriage. However, if you use community property or income earned during the marriage to continue mortgage payments, to improve, etc, then a portion of it does become community property.
