One of the key steps in divorce is dividing property between you and your spouse. This can also be a difficult step, depending on your situation and your spouse. To start, it is a good idea to make a list of all of your property, the value of it, and all of your debts. Here is more information about what to expect when dividing the property in your divorce:
What is Community Property?
California is one of nine states that have a community property system. Community property means that you and your spouse each have a 50 percent interest in all of the community property in your marriage, regardless of which of you acquired the property. The theory is that, as partners, you have both contributed equally to the marriage. California also allows for separate property, which is owned or controlled by only one spouse and will not be split in the divorce.
Can My Spouse and I Work Out the Property Division?
Yes, if you and your spouse are able to work out a property settlement between the two of you, this will often be sufficient. However, the judge is responsible for signing off on your agreement and issuing the final order.
What about Debt?
Just as your property is divided equally, your marital debts will be divided as well. It is important to be very careful when dividing your debt because you do not want to be tied to your spouse if he or she fails to satisfy your debts.
To learn more about what to expect about property division, contact a divorce attorney. In San Jose, Moreno Family Law is a firm that focuses on divorce and other family law issues. We will explain your rights and advocate on your behalf. Call (408) 266-9011 to speak with a family lawyer.
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