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Topic: Community property

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	Community Property States
		Community property states treat marital income differently than other states (which are sometimes called common law states).
		The IRS Restructuring and Revision Act of 1998 revised the treatment of spousal liability, and includes rules for community property states.
		Apart from splitting income that's produced by property you own jointly with your spouse by virtue of the community property laws, you should apply the rules described in other pages of this guide to relief from spousal liability as if you lived in a common law state, not a community property state.
	www.fairmark.com /spousal/comprop.htm (713 words)

	Community property - Wikipedia, the free encyclopedia
		Community property is a marital property regime that originated in civil law jurisdictions, and is now also found in some common law jurisdictions.
		The community property system is usually justified by the idea that such joint ownership recognizes the theoretically equal contributions of both spouses to the creation and operation of the family unit.
		In some jurisdictions, such as California, a 50/50 division of community property is mandated by law; in others, such as Texas, a divorce court may decree an unequal division of community property.
	en.wikipedia.org /wiki/Community_property (441 words)

	Community Property Laws and Assets Protection - Nevada Corporate Planners
		All property of the wife owned by her before marriage, and that acquired by her afterwards by gift, bequest, devise, descent or by an award for personal injury damages, with the rents, issues and profits thereof, is her separate property.
		Under this statute, an asset which comes under its terms is the separate property of one of the spouses in the absence of clear and convincing proof that the asset was purchased with community funds or credit, or was acquired by the spouse's community toil or talent.
		And, of course, community property is liable for the repayment of a debt incurred by either spouse while married.
	www.nvinc.com /community_property_law.htm (2351 words)

	CCH Financial Planning Toolkit \| Community Property
		Income from separate property is also considered separate property, as is property acquired during the marriage with funds derived from the separate property.
		Community property cannot be used to satisfy a separate debt of either spouse.
		Upon divorce, community property is divided equally and is deemed to be owned by husband and wife as tenants in common.
	www.finance.cch.com /text/c10s10d380.asp (408 words)

	Fool.com: Married Separate and Community Property
		But, since California is a community property state, they are actually required to combine both incomes (for a total of $130,000), and each report half of the total on their respective separate returns.
		Generally, community income is all income from community property (also determined under state law), as well as salaries, wages, and other pay for the services of either or both spouses during their marriage.
		Gains and losses from property are characterized as separate or community depending on whether the property producing the gain or loss is separate property or community property.
	www.fool.com /taxes/2000/taxes000602.htm (896 words)

	CCH Business Owner's Toolkit \| Community Property
		Community property, also called marital property, is recognized in Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin, but the laws vary from state to state.
		Property that was owned by either spouse before marriage or was acquired by one spouse after marriage as a gift, inheritance, bequest or devise is considered to be separate property.
		All property owned or acquired by a married person is considered to be community property unless the person can prove that it is separate property.
	www.toolkit.cch.com /text/P08_7575.asp (422 words)

	CCH Business Owner's Toolkit \| Community Property
		In these states, property acquired by a married couple during marriage, other than through individual gift or inheritance, is presumed to be owned in community property, regardless of which spouse's name is on the title or other ownership document.
		Married couples who own property, such as a home or investments, in a community property state may want to consider converting the ownership to joint tenancy, at least where only one spouse will be incurring the majority of debts.
		It is also possible to remove the property from community property status so that each spouse owns one-half of the asset as his or her separate property, or jointly own the property in the tenants in common form of ownership.
	www.toolkit.cch.com /text/P12_2391.asp (513 words)

	Texas Community Property Law
		In Texas, property owned by a married person is classified either as (1) separate property or (2) community property.
		Property owned by a single person is necessarily his or her separate property.
		Except for property that is the family "homestead," separate property may be sold and conveyed without the permission of the other spouse.
	www.dallasrelo.com /commproperty.html (280 words)

	What is community property? (Site not responding. Last check: 2007-10-02)
		Community property is anything acquired by the husband and wife during their marriage while they are domiciled in a community property state.
		Community property is all property that does not fall within the definition of separate property.
		Separate property may be acquired during marriage by purchase with separate funds, by exchanging the separate property, or in accordance with a pre- or post-nuptial agreement.
	www.ftb.ca.gov /individuals/faq/ivr/221.html (125 words)

	Gifts Between Spouses in Community Property States
		In community property states, each spouse’s interest in the community property is subject to the claims of the other spouse’s creditors.
		If community property is divided into equal shares of separate property of the husband and separate property of the wife, those separate property interests will not be available to satisfy the claims of the other spouse’s creditor.
		Those in community property states can at least limit their potential exposure to a creditor’s claim to one-half of the marital property, rather than all of the marital property, by creating this type of division.
	www.rjmintz.com /trust-gifting-communityproperty.html (668 words)

	Alaska Community Property Act by Anchorage Family Law Lawyer (Site not responding. Last check: 2007-10-02)
		An act called the Alaska Community Property Act, otherwise known as Chapter 75 of Title 34 of the Alaska Statutes, was signed into law this spring and provides an alternative form of property ownership for married couples.
		If a community property agreement provides that all property acquired by either or both spouses during the marriage is community property, the property of the spouses acquired during the marriage and after the determination date is presumed to be community property.
		As a result, a spouse can not normally give away the other spouse's community property to a third person in an amount of over $1000 in a calendar year (or more if it is reasonable in light of the economic position of the spouses) without the consent of the other spouse.
	www.alaska.net /~pradell/Information/CommunityProperty.html (446 words)

	Texas Divorce -- Marital Community Separate Property
		However, reimbursement may be due to one spouse or the community for contributions made during the marriage to enhance the value of one spouse's separate estate.
		The value of all the property is to be determined as near as possible to the date your divorce.
		Since a great deal of property is exempt from execution under state law, and cannot be taken to satisfy the payment of a debt, you may not be able to actually collect the money judgment for many years, and will have to renew it every 10 years to keep it valid.
	www.raggiolaw.com /txart05.html (923 words)

	6331 Community Property
		the community estate is liable for a debt incurred by either spouse before or during marriage, regardless of which spouse has the management and control of the property and regardless of whether one or both spouses are parties to the debt or to a judgment for the debt.
		Since the debt is a community debt, both Farrell and Onie Hyde are liable and Farrell's death did not terminate his wife's obligation to the I.R.S. In granting Defendant's Motion to Dismiss, the Court held that Onie Hyde's benefit plan could be levied to satisfy her husband's debt because it was community property.
		Under Arizona community property law, the marital community is not an entity of juristic person separate and apart from the spouses composing the marital community.
	www.irstaxattorney.com /levy/part5-levy/6331_community_property.html (5974 words)

	Community Property at DadsRights.org
		Generally speaking, anything acquired during the marriage is considered to be community property, while anything acquired before the marriage, or following separation or death, is considered to be the separate property of the spouse acquiring it.
		Community property is typically divided equally between spouses upon divorce or death, and after any offsets such as community debt.
		Another type of distribution scheme is that of "community property", such as you have in California and other states.
	www.dadsrights.org /articles/community_property.shtml (259 words)

	Community Property (Site not responding. Last check: 2007-10-02)
		Just because a state is known as a community property state, however, does not meant that all property owned by married people in that state is deemed to be community property.
		And, it is axiomatic that no one, in either community property or common law states, should make major financial and estate-planning decisions without the counsel of an attorney who understands both the laws of the client's residential state and the laws of the state where the property is held.
		With this brief discussion of community property as a backdrop, it is accurate to say that the vast majority of estate planning decisions are made in similar ways in both the common-law states and in the community-property states.
	www.buybeach.com /estate_planning/aecmprop.htm (599 words)

	Community Property
		One half of the property would have a basis of $100,000 (the "stepped-up" basis) and one half of the property would have a basis of $5,000 (the original purchase basis).
		In all other forms of joint ownership, such as community property or tenancy in common, there is no automatic transfer upon death; the deceased owner's portion of the title is transferred pursuant to a will, trust, or through the rules of intestate succession if there is no will or trust.
		For property held as community property without the right of survivorship, each spouse has the right to dispose of his or her one half of the community property by will.
	www.paulmertz.com /Communtiy_property.htm (1719 words)

	[No title] (Site not responding. Last check: 2007-10-02)
		Each spouse in a community property state is individually liable for the tax on one half of the community income, regardless of which spouse actually earns the income, and regardless of whether a joint or separate return is filed.
		Community property is a concept which began in Spain to protect rich women from losing everything to their husbands, and is only officially recognized in nine states - Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin - which were once under or influenced by Spanish or Mexican control.
		Community property is recognized based on fact or agreement of the parties, rather than holding of title.
	mysite.verizon.net /biz8xqi0/communityproperty.html (347 words)

	How to File Taxes in a Community Property State - eHow.com
		Be aware that when community property rules apply, you must split community property income, adjustments and deductions - 50 percent to your spouse and 50 percent to you.
		If you and your spouse divorced during the year, you have to follow community property rules for that part of the year during which you were married and lived in a community property state.
		Treat military retirement pay and civil service retirement pay as community property income only if the two of you were married and living in a community property state at the time of military service or civil service employment.
	www.ehow.com /how_9712_file-taxes-community.html (880 words)

	6321 - Community Property p3
		Although in a community property analysis the taxpayer-husband would have no direct interest in the real property, the community interest itself had some value and was attachable by the federal government.
		While obviously the property interests existing under community property and homestead laws are quite distinct, it is not at all difficult to see why the analysis utilized in Overman should be applied by this Court to a homestead claim situation.
		Some of the property involved is community property, some is separate property, and the status of the remainder property is yet undetermined.
	www.irstaxattorney.com /liens/part5-liens/6321-community_property_p3.html (6929 words)

	Community Property vs. Joint Tenancy
		In the few community property states (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, and Washington), it is generally highly suggested that property titled as joint tenancy be changed to community property in order to provide a full step up in basis upon death.
		Also of equal importance, it may be possible for those couples moving from a community property state to a joint tenancy state to maintain the community property status after such move.
		Community property: (pdf 2001) Husband bought life insurance on his life using community property (residence in Louisiana).
	www.efmoody.com /estate/community.html (807 words)

	Community Property
		Property purchased or exchanged for separate property is and remains separate property.
		Separate Property Liability: A married person’s separate property is not subject to the liabilities of his or her spouse unless both spouses are liable by other rules of law.
		A spouse's separate and sole management community property cannot be reached to satisfy the obligation incurred by the other spouse unless that obligation was incurred for necessaries or by the torturous conduct of the other spouse.
	www.dallas-child-custody.com /divorceproperty.htm (1614 words)

	Community Property (Site not responding. Last check: 2007-10-02)
		In these community property states, property owned by a spouse consists of the spouse's separate property and a one-half interest in the community property owned by the married couple.
		Any property a spouse receives as a gift or inheritance during the marriage (as long as it is kept separate from the couple's community property).
		Properly classifying property as separate or community depends greatly on the kind of property involved and what state you are in.
	www.smartagreements.com /bltopics/Bltopi69.html (561 words)

	Family law: community property states by GotTrouble.com
		Property that you or your spouse earned during marriage is generally treated as community property states.
		"Separate" property is property that you or your spouse (1) owned before the marriage or (2) received individually as a gift or through inheritance.
		In general, all separate property will be given to the person who owns it, and all community property states will be divided so that each person receives the same net amount.
	www.gottrouble.com /legal/family/community_property.html (117 words)

	Community Property (Site not responding. Last check: 2007-10-02)
		New Section 682.1 to the Civil Code provides that the community property of a husband and wife, when expressly declared in the transfer document to be “community property with right of survivorship,” may transfer automatically to the surviving spouse without probate.
		The tax status of community property allows for a step-up in basis in property upon the first spouse to die.
		If you are married and hold real property in joint tenancy, you may wish to consider executing a new deed to transfer title to your spouse and yourself in community property with right of survivorship.
	www.lawadvising.com /articles/communityproperty.htm (328 words)

	Do I Live In A Community Property State?
		Holding title to real property as Community Property is a type of ownership available to married couples only.
		The property laws in these nine states look at property purchased during a marriage as community property and both husband and wife have an equal right to possess the property during their marriage.
		Community property laws may become complex, especially when dividing up assets upon a dissolution of the marriage.
	www.escrowhelp.com /articles/20000114.html (447 words)

	Community vs. Separate Property
		California is one of nine states that embrace the law of community property.
		Community property is a theory of law in which the husband and the wife are treated as co-owners of property in a form similar to a partnership.
		Separate property is any property that has been acquired by either spouse prior to marriage, after separation, or during marriage by gift or inheritance.
	californiadivorce.info /legal.property.communityvsseparateproperty.htm (308 words)

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