Understanding Division of Property
When a married couple becomes divorced, they must divide their property if they did not have a prenuptial agreement that stated what divisions would be made in the event of a divorce. Property division can be a tricky part of divorce, as it includes everything from bank accounts to houses, and even collectibles such as artwork or antiques.
If you are going through a divorce and need legal advice on division of property, or if you have any other concerns, contact the San Diego divorce lawyers of Fischer & Van Thiel, LLP at 760-722-7646. We can help make sure that the division of property in your divorce remains fair and equitable.
Ways to Divide Property
In California, only community property is divided. In other words, property owned jointly by both spouses has to be divided at the time of the divorce. Assets considered the property of just one spouse do not get divided.
Community property typically refers to:
- All earnings during marriage
- The assets acquired using those earnings
Separate property typically refers to:
- Earnings and assets acquired before the marriage
- Gifts
When getting a divorce, the parties may agree upon how they will divide property among themselves or allow a judge to rule who gets what if the couple cannot reach an agreement.
Contact Us
If you are going through or considering a divorce, contact the San Diego divorce lawyers of Fischer & Van Thiel, LLP today at 760-722-7646 for more information about division of property and your legal rights.
