Joint ownership also includes any income earned by spouse or partner (or both of you) during the marriage and anything that was purchased with that income. You can normally determine if the property belongs to the Community by looking at the source of the money with which it was purchased. If the purchase money was earned during the marriage, the property belongs to the Community. Separate ownership is also anything you buy after the date of separation, including the money you earn. This is 1 of the reasons why the date of separation is so important. It can determine whether certain real estate or debts are common property or separate ownership. To understand how you can divide your property and debts so that you can conclude your divorce or separation without a break in body, you need to understand how property laws in California work when a couple is married or in a domestic partnership. The rest of this section will explain these laws. For example, if you and your spouse lived in New York city for part of your marriage and they both worked and bought a car there. Now you live in California and are asking to divorce or be legally separated. The income from your respective jobs in New York, plus the car, is almost a common property, because if you had worked in California and bought that car, you would have been considered common property. In the case of California divorce, the income and the car are therefore treated as common property.
As you explain in your documents, the purpose of a common ownership agreement is to guarantee the dual basis of public goods. At the same time, it puts an out-of-state joint tenancy term and helps meet the IRS`s written requirements to qualify for this benefit. Similarly, this unilateral agreement is often the most valuable and advantageous document signed by a married couple as part of the estate planning process. Laws and courts provide that property acquired before marriage is separated, while property acquired during marriage is considered to belong to the community. In the same way, “the separate property income is separated, the intrinsic increase of the separate property is separated, but the fruits of the Community`s expenditure for time, talent and work are the common property.” In re Marriage of Dekker, 17 Cal. App. 4th 842, 850 (Cal. App.
4th dist. 1993). When separated property or the funds of a spouse are mixed or mixed with the common property, so that the separated property has lost its identity and cannot be clearly traced or separated, it becomes common property. This results in a loss of the distinct character of the property. However, if the Community interest does not matter in the land in which it has been mixed, the Community will not draw separate succession from it. A re Estate of Cudworth, 133 Cal. 462 (Cal. 1901). In most conflicts during the dissolution of marriage, the question of such an amalgam becomes a central battle between the spouses – what is separated, what has been mixed, who has rights over what. Sometimes things are part of separate property and collective property….