- U.S. Law.(in some states) property acquired by a husband, wife, or both together, that is considered by law to be jointly owned and equally shared.[1920-25]
* * *Property held jointly by a husband and wife.In states having a community property system, property acquired by either spouse during the marriage may be deemed to belong to each spouse as an undivided one-half interest. Some property (e.g., gifts to one spouse) may be classified as separate, but in lawsuits over the classification of property the presumption is in favour of the community category. Some jurisdictions extend community property laws to same-sex unions.
* * *▪ lawlegal treatment of the possessions of married people as belonging to both of them. Generally, all property acquired through the efforts of either spouse during the marriage is considered community property. The law treats this property like the assets of a business partnership.The history of marital property law shows a gradual spread of the community-property system. In ancient Rome—except for one period—wives had few property rights; whatever was theirs became their husbands' upon marriage.In the European Middle Ages, parts of Spain, France, and Germany had copartnership-in-acquisition systems, which are thought to have originated among the Germanic tribes and to have been carried to Spain and France by the Goths and Franks. The French and Spanish carried these practices to the Americas.The English common law considered wives as legal extensions of their husbands and unable to own property. Various statutes in the late 19th century modified this concept in both England and the United States, and the classifications of community and separate property began to assume the features they have today.The community-property system classifies property upon acquisition as either community or separate, irrespective of declarations of the parties—although contractual specifications between husband and wife may modify this. Separate property must be held and used exclusively by one spouse. Usually property that is acquired before marriage does not become community-owned. Most community-property statutes specify what property acquired after marriage is considered to be separate, and all the rest is classified as community.Common sense dictates how the property is classified. For example, either spouse's earnings belong to the community, while gifts to one spouse are considered separate property. Generally, any earnings from property (rent, interest, dividends) take their classification from the property that yields them.Where community and separate property are blended, the whole is presumed to be community unless the great bulk of it is separate. In lawsuits over the classification of property, the presumption is in favour of the community category.Formerly, the husband held the exclusive right to control community property, but this right has been modified by many statutes.
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Look at other dictionaries:
community property — see property Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. community property … Law dictionary
community property — Property owned in common by husband and wife each having an undivided one half interest by reason of their marital status. The nine states with community property systems are Louisiana, Texas, New Mexico, Arizona, California, Washington, Idaho,… … Black's law dictionary
community property — ☆ community property n. in certain states of the U.S., property acquired by a husband or wife, or by both, during marriage and consequently owned in common by both … English World dictionary
Community property — For the Steel Panther song, see Feel the Steel. Community property is a marital property regime that originated in civil law jurisdictions and is now also found in some common law jurisdictions. The states of the United States that recognize… … Wikipedia
Community Property — A U.S. state level legal distinction of a married individual s assets. Property acquired by either spouse during the course of a marriage is considered community property. For example, an IRA in the name of an individual with a spouse,… … Investment dictionary
community property — A system, derived by several states through adoption or succession from the Spanish, Mexican, or French law, relative to property rights of husband and wife, the essential principle of which is that the earnings of either spouse by his or her… … Ballentine's law dictionary
community property — noun property and income belonging jointly to a married couple • Hypernyms: ↑property, ↑belongings, ↑holding * * * comˌmunity ˈproperty 7 [community property] noun … Useful english dictionary
community property — Assets of a married couple belonging to both people. Divorce laws vary in the United States, with some states being community property states … American business jargon
community property — com munity .property n [U] law property that is considered to be owned equally by both a husband and wife in US law … Dictionary of contemporary English
community property — com munity ,property noun uncount LEGAL the idea that property owned by either a husband or wife is considered to be owned equally by both … Usage of the words and phrases in modern English