community property

Definition of "community property"
  1. Property and earnings acquired during a marriage, that both spouses jointly own and are responsible for, except for inheritances, gifts, or profits from pre-marital assets
How to use "community property" in a sentence
  1. The house they bought after they got married is treated as community property.
  2. She argued that the boat he purchased was community property because it was acquired during their marriage.
  3. Except for the painting he had inherited, everything else in their home was deemed community property.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z