Divorce law can make property division difficult for couples who’ve split. Understanding how property is viewed by the court and consulting with a qualified divorce lawyer can minimize frustration during this difficult time.
The first point to understand is the court’s definition of property. Under California family divorce law, property can be almost anything that has value. This includes real estate, cars, retirement plans, life insurance, and even intellectual property (like a patent).
A divorce is subject to the community property laws of California. This means that any property obtained during the marriage is jointly owned by both of you. You should also know that debt acquired during the marriage is also considered to be a joint responsibility. This applies even if the debt was incurred in one spouse’s name only.
When the marriage ends, Marina Del Ray divorce law assigns half of the community property, and half of the community debt, to each of you. This means each party is entitled to half of the retirement plans, real estate, etc., acquired during the marriage. As well, you are each responsible for half of the debt, including mortgages, that was taken on during the marriage.
Any property you owned before the marriage still belongs solely to you, and will remain yours after the divorce proceeding. An inheritance also remains separate, even if it was received while the marriage was intact. Separate property guidelines have complex ramifications that can be explained in detail by your experienced Marina Del Ray family law attorney or divorce lawyer. For example, anything you purchased with the proceeds from separate property might also be deemed separate.
The fair division of property is a primary concern among divorcing couples. A qualified California divorce lawyer can help you understand and protect your property rights during and after your divorce.