In California, property division in a divorce follows the principle of community property. California is a community property state, which means that any property acquired during the marriage is generally considered community property and is subject to equal division between the spouses upon divorce. This includes assets and debts acquired during the marriage, regardless of which spouse earned the income or whose name is on the title.
There are a few key points to understand about property division in a California divorce:
Community Property: Community property includes all assets and debts acquired by either spouse during the marriage. This can include real estate, bank accounts, investments, retirement accounts, vehicles, furniture, and other personal belongings.
Separate Property: Separate property consists of assets and debts that were owned by one spouse before the marriage, acquired after the date of separation, or received as a gift or inheritance during the marriage but specifically designated as separate property. Separate property is not subject to division during divorce and remains with the owning spouse.
Equitable Distribution: California law requires that community property be divided equally between the spouses unless they agree to a different arrangement through a valid prenuptial or postnuptial agreement.
Community Debts: Just like assets, community debts are also divided equally between the spouses. These can include mortgages, credit card debts, and loans acquired during the marriage.
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