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Community Property • Essay Approaches
CPROP#002
Legal Definition
Discuss each asset or debt separately and think about the following: (1) WHO acquired the property; (2) HOW was it acquired; and (3) WHEN was it acquired?
Plain English Explanation
Every time you approach a community property problem, you should ask the same three questions about any asset or debt that’s considered community property between the couple: (1) Who bought the property? Alternatively, who assumed the debt? (2) In what way did that person come to own the property or the debt? That could be a gift, a purchase, etc. (3) When exactly did the debt or property come into possession of either spouse? It’s key to know if that happened before or during the marriage.
By breaking community property questions down systematically into these three questions, you can avoid many of the sneaky ways that tests try to trick you into mischaracterizing an asset.
By breaking community property questions down systematically into these three questions, you can avoid many of the sneaky ways that tests try to trick you into mischaracterizing an asset.
Hypothetical
Hypo 1: Bob and Sam, after years of being happily married and financially successful, suddenly run into some trouble in their marriage! Seeking a way to fix the relationship, Sam takes them to a couples therapist. Unfortunately, Bob leaves Sam and runs away with the therapist. Sam and Bob are now seeking a divorce and you’ve been tasked with figuring out how to approach dividing their property. What do you do? Result: This may be a little tedious (having some paralegal lackeys helps), but you’re going to go through all the community property in question and work through those three questions we discussed.
Let’s work through those questions with a boat that both Sam and Bob want. (1) Who bought the boat that they both want? Knowing that will help us see who has the better claim to it. (2) How did they buy that boat? Was it with money they shared or was it bought independently? Did they pay for it at all, or was part of it purchased before marriage with the remainder owed paid after marriage? (3) When did the boat come into the couple’s possession?
Answering these three questions, which you can apply to any/all asset or debt that’s part of their community property, is the first step to solving any disputes.
Let’s work through those questions with a boat that both Sam and Bob want. (1) Who bought the boat that they both want? Knowing that will help us see who has the better claim to it. (2) How did they buy that boat? Was it with money they shared or was it bought independently? Did they pay for it at all, or was part of it purchased before marriage with the remainder owed paid after marriage? (3) When did the boat come into the couple’s possession?
Answering these three questions, which you can apply to any/all asset or debt that’s part of their community property, is the first step to solving any disputes.
Visual Aids
