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Property Division, Equalization, and Sale of Marital Property?
The most complex area of Family Law and Divorce is the division of property. Since
California is a "Community Property" state, the laws are far different and more complex
than other "equitable distribution" states or other areas of laws in California.
This area of
law is constantly changing, sometimes several times each year, and requires the
experience of a Family Law or Divorce Attorney. As a general rule, the two (2) types of
property held by married persons is:
1. Separate Property is that acquired before marriage, after marriage, or received
during marriage by gift, devise or descent. (Family Code Sections 770-772)
2. Community Property is that other than separate property which was acquired
during the marriage. There is a presumption all property acquired during
marriage is community, with equal right of ownership interest.
(Family Code Section 760)
However, there are many, many exceptions to each one of these very basic and general
rules. For this reason, it is very important to contact a Family Law Attorney, to make
sure you are not giving up your rights, which could literally cost you tens, if not
hundreds of thousands of dollars, if not more.
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23150 Crenshaw Blvd., Torrance, California 90505
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Office: (310) 891-2300
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© Kensik Law 2006 | Disclaimer
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