Community property
In a community property jurisdiction, most property acquired during the
marriage (except for gifts or inheritances) is owned jointly by both spouses and is divided upon
divorce,
annulment or death.
Joint ownership is automatically presumed by law in the absence of specific evidence that would point to a contrary conclusion for a particular piece of property. 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.
See more at Wikipedia.org...
community property
Noun
1. property and income belonging jointly to a married couple
(hypernym) property, belongings, holding, material possession
Community Property
A marriage property legal term; property acquired or owned during a marriage or, where recognized, a marriage-like relationship, and which belongs, notwithstanding title, as in a partnership and as tenants in common (“hence “community”), to each spouse equally and subject to division on that basis in the event of separation or divorce. - (
read more on Community Property)
Community Property
Property acquired by a couple during their marriage. Refers to the system in some states for dividing the couple's property in a divorce or upon the death of one spouse. In this system, everything a husband and wife acquire once they are married is owned equally (fifty-fifty) by both of them, regardless of who provided the money to purchase the asset or whose name the asset is held in.
community property
Eng: community property
Urdu: اِشتراکِ اِملاک ۔ جائیداد جو شوہَر اور بیوی کی مُشتَرکہ مَلکیت ہو ۔ اِشتراکُ المال ۔
Free Download Now!
