Community property

Community property is a marital property regime found in some common law jurisdictions in which all property acquired during the marriage (except for gifts or inheritances) is owned jointly by both spouses and is divided upon divorce or annulment. Division of community property may take place by item, by splitting all items or by value. In some jurisdictions, a 50/50 division of community property is mandated by law; in others a divorce court may decree an unequal division of community property. In non-community property states property may be divided by equitable distribution. Generally speaking, the property that each partner brings into the marriage or receives by gift, bequest or devise during marriage is called separate property. See division of property.

In the United States There are nine community property states - Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin. In addition, Puerto Rico is a community property jurisdiction.