COMMUNITY PROPERTY
(noun)Did you mean?
Definitions
There is 1 meaning of the phrase
Community Property.
Community Property - as a noun
Property and income belonging jointly to a married couple
Example Sentences
"In many states, community property laws govern the division of assets acquired during a marriage."
"Under community property rules, both spouses have an equal ownership interest in all marital assets."
"In a divorce, community property is typically divided equally between the spouses."
"Community property states consider any income earned by either spouse during the marriage as community property."
"In community property states, debts incurred by one spouse during the marriage are generally considered community debts."
