What is considered to be community property?
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What is considered to be community property?
q
Asked on July 22, 2017 under Family Law, New York
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
Community property is generally considered to be all property that the spouse'ss acquired during the marriage. It includes property (real or personal), debts and money. Specifically, it includes such things as income, home equity, bank/retirement accounts, vehicles, furniture, stocks, etc. It also includes mortgages, credit card debt, tax owed, and student loans. When the parties divorce, all of the property acquired during marriage will be evenly divided. For further information, here is a link to an article that will explain further: https://family-law.freeadvice.com/family-law/divorce_law/1community_property.htm
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