SACRAMENTO PROPERTY DIVISION LAWYERS
California is a community property state. This means that most things acquired during marriage with community funds, and income earned by a spouse during marriage, belong to both spouses equally – regardless of who acquired it or who earned the income. Some items or funds acquired during marriage, however, may be the separate property of a spouse if acquired by gift or inheritance. Moreover, rents or profits derived from separate property are also the separate property of the spouse, as is income or items acquired after the date of separation -even if you are still married.
There are steps you must take to ensure your separate property remains your separate property. It is possible to inadvertently change the character of your property or money. In such a case, it is imperative you have an attorney who understands the situation.
Property division litigation often stems from parties’ disagreement over the character of property and its value. Moreover, in a divorce a court MUST divide the community estate equally, unless the parties agree otherwise. That is, each item must be divided, or sold and the proceeds divided. Because of this, the character and value of property become critically important as many times parties prefer to keep non-divisible items and make an even distribution of assets and debts.
Call HOSE & SANCHEZ attorneys now to find out your property rights.