Paper Summary:

The paper examines community property law in relation to the separate property of each spouse and the real estate which either spouse acquires. The paper then explains community property versus joint tenancy, the differences in the community property system versus common law marital property system and the community property systems in times of divorce. The paper also discusses the laws of community property with regard to inequities of income splitting, creditors and death of the spouse. The paper shows how community property law promotes equity as well as efficiency but with certain drawbacks.

Outline:
Introduction
Discussion
Conclusion

From the Paper:

"Everything that a husband and wife possess together falls under Community Property. This normally includes all the debts incurred, money earned and all the property attained during the marriage period. The following are classified as the joint property of a married couple by community property states: (a) any income obtained during the marriage by either spouse; (b) any personal property or real property attained through the income earned during the period of marriage- it includes home, vehicles, appliances, furniture, luxury items, etc; (c) any debts acquired in the course of the marriage. Under the law of community property, everything is owned as well as owed by the spouses immaterial of the fact as to who has spent or earned the income. ("The Ins and Outs of Community Property Law", n. d.)"

Sample of Sources Used:

• Abts, Henry W. (2002) "The Living Trust: The Failproof Way to Pass Along Your Estate to Your Heirs ..." McGraw-Hill Professional.
• Gregory, John DeWitt; Richards, Janet; Wolf, Sheryl L. (2003) "Property Division in Divorce Proceedings: A Fifty State Guide" Aspen Publishers Online.
• Lawyers Attorneys. (2007, May) "Community Property Law" Retrieved 17 April, 2008 fromhttp://legalcatch.wordpress.com/2007/05/22/community-property-law/
• N. A. (2008) "Family Law - Divorce Law - Community property" Retrieved 17 April, 2008 from http://family-law.freeadvice.com/divorce_law/1community_property.htm
• N. A. (2008) "Married Couples: Who Owns What?" Retrieved 17 April, 2008 from http://www.nolo.com/article.cfm/pg/4/objectId/70F6390D-B251-4CA7-A0B734844FB69A31/catId/F251EA55-13A9-4EE0-85D21CEB27636030/309/298/ART/

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