community property


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Related to community property: separate property

community property

n. Law
In certain jurisdictions, joint ownership of all property acquired during a marriage except property acquired by gift or will.

commu′nity prop′erty


n.
property acquired by a husband and wife, considered in some states to be jointly owned.
[1920–25]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.community property - property and income belonging jointly to a married couple
belongings, property, holding - something owned; any tangible or intangible possession that is owned by someone; "that hat is my property"; "he is a man of property";
Translations
References in classic literature ?
We wouldn't have had any community property only for you.
There are provided for the accommodation and care of foreign refugees in the community property "Horstweg / At the pollarded willows in the city of Potsdam the following services:
During a marriage the husband used community property funds to purchase an insurance policy on his life, naming his wife as the policy's only owner and beneficiary.
Community property is a form of concurrent ownership between a husband and wife created by statute in nine states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin (Alaska also allows a full or partial community property election).
Additionally, RDPs living in one of these three states may move to a common law state taking with them property they acquired while they were domiciled in the community property state.
These laws originated from a similar community property system in Spain, which was in turn transplanted to Mexico and the United States.
According to the report, when a couple gets divorced in a community property state, the assets are apportioned based on very specific rules.
Where the enterprise was owned by one of the spouses before the marriage, the joint community property shall include the income derived from the operations of the enterprise or any other business and the increase of the enterprise (business) after the formation of the marriage;
Directed towards tax professionals who advise high net worth individuals, this webinar will cover issues arising in expatriation, issues related to the use of foreign trusts, and the US income tax consequences to US and nonresident alien spouses resulting from the interaction of a special Internal Revenue Code section to local community property law; BNA will moderate a panel of IRS specialists who will overview these particular sections and then respond to questions related to their application.
The type of relief available to an individual varies depending on various factors and circumstances, such as tax filing status, marital status and community property laws.
Staff from the Wates Group, which is working on the town's former council housing stock, spent hours decorating and installing new cupboards and worktops at Cornerstone House, a community property in the Dyke House area where people aged six to 16 can meet at evenings and weekends.
THE lack of respect for people and community property that currently blights society must not be tolerated, said minister for social justice Edwina Hart.

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