Division of Assets

San Jose Divorce Attorney

Divorce proceedings in California typically require that property and debt issues be settled between the parties by a signed Marital Settlement Agreement. On some instances the property award is ordered and decreed by the Superior Court within the Final Judgment of Dissolution of Marriage.

A “Community Property” State

In the state of California, divorce courts view property shared by a married couple as community property. The definition of community property is all property and debt that was acquired from the date of marriage until the marital cut-off date. Should the spouses be unable to reach an agreement over the division of their property, all community assets will be split equally by the Superior Court.

What is Considered Community Property?

The property that meets one of the following:

• Acquired by the parties during marriage in joint form
• Held in tenancy in common
• Joint tenancy
• Tenancy by the entirety

This presumption may be refuted by providing either a clear statement in the deed by which the property is acquired that it is not community property, but separate property, or proof that the parties have made a written agreement that the property is separate property.

Debts

The accumulation of debts after the date of separation as treated either as common necessaries of life or nonnecessaries. Without a court order or written agreement for support or for the payment of these debts, necessaries are the presumed responsibility of the party who incurred them. Nonnecessaries are always the responsibility of the party who incurred them

Speak with a San Jose Family Attorney

If you are facing a divorce, you need the guidance and understanding of a family attorney who will be there for you. Contact San Jose divorce lawyer Daniel Jensen at 408-296-4100.