Division of Community Property During a Divorce- Scottsdale Divorce Attorney
Once it becomes clear that a divorce is imminent, one of the major concerns you will have is the way your property will be divided. Different laws will apply depending on the type of property, whether it is considered sole or community property. Read more and then consult the Law Office of Hope Fruchtman, a Scottsdale divorce attorney with extensive experience in these matters.
What is Community Property?
Community Property is that which has been acquired during the course of the marriage by either the husband or the wife. However, there are some exceptions. Property in the form of gifts or inheritances are, for example, considered sole property. The same is true for property acquired after a petition for divorce, separation, or annulment is served.
Will I get half of the Community Property?
While the courts will aim to divide community property equitably, a perfect 50/50 split will not be possible on every item, such as property or physical possessions. This is where much of the contention of a divorce proceeding comes from, because there may be disagreement as to what constitutes as “half”. While it is generally best to try to come to an amicable division of assets with your spouse, if you are not able to do so, the courts will provide a ruling based on a percentage of the value of the marital estate.
Is my house Community Property?
If one partner prior to the marriage purchased the house, and the deeds are still under only the one name, and there are no children involved, the house will likely be considered sole property of the purchaser. However, when children are involved, the court will generally allot the home to the partner who will be performing the majority of the child rearing. If there are no children and the home was purchased jointly, ownership of the house will vary on a case-by-case basis.
Are Debts Community Property?
Debts may or may not be community property. For example, student loans incurred by one partner prior to a marriage may be considered a sole debt, as long as the other partner has not become a joint holder on that account. However, debts incurred after the marriage or that both partners have participated in will be considered community debts and will be subject to equitable division between the divorcing parties.