Community Property question

[Alpo]

So let's say I live in a community property state, like California. My wife owns half of what I got.

 

Does that only apply in the monetary part, or since she owns half of it, she has a say in what is done with it? Let's say I want to sell the house and she doesn't. Can she stop me from selling the house because it's half hers?

 

Television show - yes, television show. They're in Vegas. Samantha and Casey are married. They don't live together, but they are still married. Sam works at the casino. Casey is a billionaire, with a capital B. He buys the casino. And then he implodes part of it. Sam doesn't want him to do this, but he does this anyway.

 

Since she owns half of everything he has, as soon as he bought the casino, she owned half of it. Right? So she should be able to say NO YOU CAN'T DO THAT? Right?

 

Again, I understand. Television show. But if it was real?

[Chickasaw Bill SASS #70001]

good thing they live apart , otherwise 

 

 he would be sleeping on the couch 

 

  CB   

[Dusty Devil Dale]

Actually, in a Community Property State, you both jointly own ALL of your posessions, except any for which  you have made other legal arrangements to keep assets legally separated, such as through the ownership title of bank accounts, property deeds, vehicle pink slips, etc.  

So absent those separate asset arrangements, if one of you dies, ALL of the jointly owned assets are already considered to be the property of the surviving spouse, with no involvement by the State, such as having to be "inherited" or "distributed" via probate and therefore also taxed.  

[Red Gauntlet , SASS 60619]

Washington is a community property state. Property acquired during marriage by the efforts of either party is community property, whatever type of property it is.

 

Property acquired by gift or inheritance (as from your parents to you) is separate property. So if your wife inherits thousands, or millions, from her parents, it's not community property, and vice versa. Likewise, property acquired before marriage is separate. To keep its separate character, it must not be commingled with community assets. You can buy assets with separate property and they retain their separate character.

 

Both parties have equal rights in the 'management' of community property. As far as real estate in particular is concerned, the consent of both parties is clearly required.

 

If the parties are separated, there can be complications. 

[Marshal Mo Hare, SASS #45984]

New Hampshire is not a community property state but is an equitable division state. 
 

I bought a condo, we got married, she lived in it and acquired homestead rights, which means that I could not sell it without her agreement.

 

i bought the unit from an Army Major who was a nurse. Her husband was also in the Army but lived elsewhere and, therefore, did not have homestead rights and was not required to agree to the sale.  
 

Both property transfers were accompanied by the appropriate spousal statements.

 

”Homestead” means different things in different states.

[irish ike, SASS #43615]

Community Property has kept many couples together! Neither one wants to split stuff.

California is also a Common Law Marriage State. If a couple lives together and shares everything like a married couple for I think 7 years then its split 50/50 if they separate.

Real case. The owner of MAGLITE, Ontario Calif., kicks his 15 or more year girlfriend to the curb. They lieved as husband and wife. And when the split came he thought he owed her nothing. HAH! She got 1/2 of everything including the MAGLITE Company they built together.