California property division is a relatively straightforward process, holding nearly all property to an even 50% split between divorcing couples. However, carrying out that division can quickly become more complex, especially if the couple has significant property that was acquired during the marriage.
If you are facing a divorce and will be going through the property division process, get in touch with an experienced and skilled Corona property division attorney as soon as possible. They can represent you through all the proceedings to ensure that your interests are protected.
The team at Najera Law Group, P.C., believes that helping clients through property division proceedings is about providing quality family law representation that improves their lives. Our attorneys have helped countless families in Corona and the surrounding areas for nearly two decades. With comprehensive knowledge and experience in several facets of family law, including divorce, our team can confidently guide you through the often-complex aspects of California property division.
Property is an umbrella term that can include a range of assets and debts owned by an individual or a married couple. This can include both tangible and intangible assets. Property generally refers to but is not limited to:
California makes a distinction between two types of property: community property and separate property. Generally, any property that was acquired outside of the marriage, such as before the marriage or through an inheritance, remains separate property so long as the property is not either put into both spouses’ names or shared between them.
For example, a home that is owned prior to the marriage by one spouse but then lived in and invested in by both will generally be considered community property. However, a vehicle or vacation home that is owned by one spouse and only used by the individual would likely remain the sole property of the individual.
Community property will include all property and assets that were acquired or used during the marriage. Per California law, it does not matter which spouse acquired the property, as it presumes that all property that was obtained during a marriage is community property.
Once community and separate properties are delineated, all the community property will be appraised and valued and then distributed in one of several ways. Depending on what works for each couple, one of the following methods will be used:
When couples own a substantial number of properties between them, negotiations can draw out into lengthy debates over who gets what. A skilled property division lawyer can help mediate these negotiations or negotiate on your behalf. Sometimes, arrangements can be made so that each spouse receives the properties that matter the most to them.
California is a community property state. This means that, for property division, all property generally acquired by either spouse during the marriage is owned equally by both spouses and will, therefore, be divided equally. There are exceptions, however, as certain property can be exempt from division. While the law is relatively straightforward, carrying it out involves complex financial resolutions. For this reason, it is highly recommended that you partner with a skilled property division attorney.
California is one of only nine states to enforce a community property law. However, this does not mean that property division is always an even 50/50 split. Some property may be exempt from division, such as:
All other property that is not exempt will be subject to an even division by the court. Securing the assets that you want to retain will require the help of a skilled attorney.
California has no specific duration requirements for a marriage for it to be subject to community property law. This means that a marriage of any length will be subject to a half-and-half split. However, this division only refers to property that was acquired during the marriage. If you haven’t been married for long, it is unlikely that you will have amassed substantial property together. Any property acquired before the marriage is not subject to division.
In a divorce in California, a wife is entitled to 50% of any property acquired by either spouse during the course of their marriage. This includes real estate, bank accounts, and even businesses started during the marriage. In addition to property division, a wife may also be entitled to additional spousal support in many cases. For more specific answers to your unique circumstances, it is ideal to consult an experienced Corona property division attorney.
If you are about to enter into property division proceedings, ensure that you are working with a qualified and skilled attorney. They can guide you through the processes and ensure that your interests are represented and upheld. Najera Law Group, P.C., has been providing quality legal counsel to divorcing couples for nearly two decades. We are ready to speak with you regarding your case. Contact our office for more information.