Ask Our Property Division Attorneys
At Griffith, Young & Lass, we recognize that property division in divorce can get complicated rather quickly, despite California’s community property laws. To help you better understand and prepare for the process, we’ve compiled answers to some of the questions we receive most often about the property division process in California. Keep reading to learn more!
What does community property mean?
Community property is all property acquired by either party during the marriage, except gifts and inheritances.
What if I brought assets into the marriage?
Assets owned prior to marriage are separate property. However, in certain circumstances, the marital community can acquire an interest in the separate property of one spouse. One example is when mortgage payments are made with community income on a separate property house after the date of marriage.
What if my spouse signed over the house title to me?
In California, title of a house does not generally control on the issue of ownership in divorce cases. In fact, if one spouse signs over title of a marital asset to the other during the marriage, there is a presumption of undue influence that must be rebutted by the spouse asserting sole ownership of the property.
What if we have separate bank accounts and credit cards?
If the money was earned during the marriage, then it is divided in half upon dissolution of the marriage. If the debt was accrued during the marriage, then it is divided in half upon dissolution of the marriage. Unless you have a prenup, then the name on the account makes no difference.
Who gets to keep the house?
Two things can happen to a marital house: it can be sold with the proceeds divided, or one party can purchase the other party’s interest from them. If both parties want to keep the house, then it will generally be ordered sold.
How is a pension divided?
In California, a pension is divided by calculating the community interest and awarding the non- employee spouse his or her half. The formula used is called the “time rule” or the Brown Formula and considers the overlap of marriage and time served with the company. The community is only entitled to a pro-rate share of the pension and does not get credit for working years during which the parties were not married.
More questions? Give us a call at 858-951-1526 or contact us online to schedule an appointment at our Carlsbad office.
