community property

noun

, U.S. Law.

1. (in some states) property acquired by either spouse, or both together, that is considered by law to be jointly owned and equally shared.

Word History and Origins

Origin of community property¹

First recorded in 1920–25

Example Sentences

Her petition said they are still ascertaining the assets to be identified as separate and community property.

From Los Angeles Times

Shi’s son testified that, on a trip to Disneyland with his children in January 2016, his father raged over the state’s community property laws, which typically require an equal split of marital assets.

From Los Angeles Times

In community property states, both halves of the home get this step up.

From Seattle Times

California is a “community property” state, which means any income is considered to be owned by both spouses equally.

From Los Angeles Times

Without a prenuptial agreement between two parties, most property acquired during the marriage becomes community property.

From Encyclopedia.com