Which states are community property state?
Arizona
What are the nine community property states?
There are nine community property states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin. Alaska is an opt-in community property state that gives both parties the option to make their property community property.
How is community property divided in Arizona?
Community Property Division in Arizona. Most commonly divorcing Arizona spouses decide how to divide community property among themselves. However, if they can’t reach an agreement and the Court ends up making a determination (after a Trial), all property, assets and debts that are considered community property are divided fairly and equitably.
Is Arizona a personal property state?
Arizona also taxes personal property, which is defined as all types of property except real estate. Taxable personal property includes property used for commercial, industrial or agricultural purposes. Personal property is considered to be movable and not permanently attached to real estate.
Does Texas have community property laws?
Texas Community Property. The community property system, which is governed by Texas case law and statutes, is mandatory for all married couples in Texas, whether the marriage is by civil law or by common law.
What constitutes community property in Texas?
Texas is a community property state, which means that if the judge splits the property, it will be done as close to 50/50 as possible. Community property is another name for marital property. This can include such items as family homes, vacation homes, automobiles, furniture, artwork, stocks, bonds and retirement accounts.
How does Texas law define community property?
The property owned or claimed by a spouse before marriage;