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What Is Community Property?

What Is Community Property?

Pursuant to California Family Code section 760, "except as otherwise provided by statute, all property, real or personal, wherever situated, acquired by a married person during marriage while domiciled in this state is community property." The exceptions identified in the code includes, but is not limited to, separate property (see previous blog for an explanation), marital earnings while living separate and apart or after a judgment of legal separation, community property transmutated to separate property, and certain personal injury awards.

Married persons may agree to transmute community property to separate property of either spouse, tramute separate property to community property, or transmute separate property of one spouse to separate property of the other spouse. A transmutation of real or personal property is not valid unless it is made in writing and joined in, consented tom or accepted by the spouse whose interest in the property is adversely affected. Fam. C. 852. However, transmutations are subject to laws governing fraudulent transfers.

Generally, money and other property received by a married person in satisfaction of a judgment for damages for personal injury, or for settlement of claim for such damages, is community property if the cause of action arose during the marriage.

If you or a loved one is going through a divorce or legal separation, please contact our Rancho Cucamonga family law office for a free consultation. Our Rancho Cucamonga family law attorneys would like to sit down with you to discuss your options.