San Jose Property Division Lawyer

San Jose Property Division Attorney & Law Firm

Married individuals in California share equal ownership of every asset that is collected during their marriage. Because California law requires that marital property be distributed evenly between a divorcing couple, the process is often intricate and intense. With spouses taking into consideration not only acquisitions but also collections of debt, dividing assets can be filled with animosity. However, with the help of a San Jose property division lawyer, you can have the support you need.

At TDC Family Law, you will have over 34 years of experience on your side. Our firm recognizes the power that family law issues can have in your life and is determined to provide accessible support to help you through them. Because our clients face unique sets of circumstances and challenges, we tailor our services to meet their needs. Your divorce is the first step on a new journey, and our team will ensure that you won’t take it alone.

Community Property Laws and Property Division

To understand how property division in a California divorce works, you first need to understand community property laws. When a state follows community property laws, it means that all marital property that a couple collects is presumed “community.” In simple terms, it means that a married couple shares equal ownership of all the property that they have acquired together.

Because each spouse has the right to 50% of their marital estate, the property must be divided equally if a couple decides to file for divorce. This can present challenges because most assets cannot be split directly in half unless they are liquidated. To protect community property during a divorce in San Jose, restrictions are placed on the marital estate to prevent either spouse from hiding, selling, or stealing assets.

Identifying Separate and Community Property

There are two main forms of property that the state of California will identify in a divorce. These are known as:

• Community Property (Marital)
  Marital property, otherwise referred to as community property in California, includes the possessions and assets that are accumulated by a couple once they are married. Community property can include the family home, vacation houses, each spouse’s income, joint bank accounts, retirement pensions, cars, stocks, and even debts. No matter who purchased the property or incurred the debt, it is considered a mutual decision and, therefore, subject to equal division.
• Separate Property
  Separate property involves any kind of asset that is owned by just one spouse that is not presumed to be community property, therefore making it legally separate from their marital estate. It includes any assets that one partner owned prior to their marriage that can still be traced to the separate property as well as any income or property that was collected once both partners officially separated. Inheritances and gifts are also classified as separate property, even if they are received by one spouse during their marriage.

Common Problems That Arise During the Property Division Process

Trying to split an entire marital estate down the middle is impossible, which is why property division can often be a long, grueling step in your separation. Because conflicts regarding the division of property are common, there are a handful of issues that you should be prepared to come across during the process. Common problems that arise within the property distribution step of a divorce include the following:

• The couple tries to divide the family home.
• The couple must figure out how to split their debt fairly.
• One spouse attempts to hide or lie about the value of community property.
• One spouse attempts to steal or misuse community property.
• The commingling of property occurred.

Many couples disagree on what is community property versus separate property. It is important to remember that regardless of a spouse’s income, both spouses contribute to the collection of physical items as well as finances. If one parent stays home and tends to children while the other works, the one who stayed home is taking that responsibility so the other can work, therefore, it is a mutual contribution.

Dividing the Family Home in a Divorce

Like other assets, the family home must be divided fairly when a married couple divorces. To do so, the separating couple can choose from a few different legal routes. These include:

• Buying Out Your Spouse’s Share. If one spouse has the financial means, they can buy out their partner’s share of the family home. This allows for fair distribution, as one spouse would receive what they are rightfully owed for their share and the other would receive the home.
• Selling the Home and Dividing the Profit Evenly. In many cases, neither spouse can afford to buy out the other or pay for the family home on their own. When this happens, the court may decide that it is ideal for the separating couple to sell the home and divide the profits. This way, both spouses can receive their liquidated share of their home and put it towards their transition.
• Deferring the Sale of the Home. Sometimes the court may allow one spouse to stay in the family home before they are required to sell it. This is known as a “deferred sale” and most often occurs when children are involved in a divorce. The sale of the home can be delayed for a variety of reasons and can depend on the age of the child, the impact the divorce had on them, the financial stability of the parent, and more.

FAQs

Q: How Are Assets Split in Divorce in California?

A: During a divorce in California, assets are split equally between both spouses as California is a community property state. The only assets that are not split equally are any that qualify as separate property and were obtained by one spouse or the other prior to the marriage and can still be traced to the separate property source. If you have concerns about a specific property, you should speak with your attorney.

Q: How Long Do You Have to Be Married to Get Half of Everything in California?

A: Knowing how long you need to be married in California to receive half of everything can be important to many couples. However, because California is a community property state, there is no set timeline for the length of a marriage to have an equal distribution. Community property states consider all physical and financial property obtained during the course of the marriage to be split between both spouses.

Q: What Is Not Considered Community Property in California?

A: In California, community property is anything that is owned during the marriage and was acquired during the marriage. This includes any property you and your spouse share that was purchased with marital money, as well as any debts that were accumulated during the marriage, regardless of who is responsible for the debt. Inheritances and gifts are not considered community property and are retained by the person who received them.

Q: If I Bought a House Before I Was Married, Can My Spouse Get Half of It in California?

A: A home you purchased in California prior to marriage is generally considered separate property. However, there may be legal recognition of the home as both community and separate property. If the home was purchased before the marriage, but there were mortgage payments made to the home after the marriage occurred, then the equity from those payments could be considered community property. Your attorney can help you understand your specific situation.

San Jose Asset Division Lawyer

The belongings, assets, and wealth that you collect during a relationship are valuable in more ways than one. When it comes time to divide property in a California divorce or legal separation, seeking the help of an experienced asset division attorney can aid you immensely. A family law firm like TDC Family Law can not only help educate you on your rights in a California divorce, but we can also work to make sure you receive the property that is rightfully yours. Contact TDC Family Law to schedule a consultation today.