Taking On The Challenges Of Property Division
Property division is an important part of divorce process. It can also be highly contentious, particularly when disputes arise and one spouse is trying to conceal assets. At Denham Family Law, APC, I attend to every detail, often with the help of financial experts who sometimes take a forensically fact-based approach in finding property.
The Complexities Of California Community Property Law
In California, there is a presumption that all property acquired during the marriage is community property. Parties to a marriage make up the “community,” so all property acquired during the marriage is presumed to belong to both parties equally. However, there are many exceptions to this presumption, and the rules are very technical.
You may have owned property before the marriage or received an inheritance during the marriage. Perhaps the house title is only in one of the parties’ names. Did a third party give money for a down payment on a property? These are only a few issues that may arise when dividing assets.
Defining Property Division
Property division as part of a divorce action is not limited to real property — it also includes items such as:
- Household furniture and furnishings
- Savings and checking accounts
- Life insurance policies
- Retirement accounts
- Profit sharing
Debts In Property Division
The division of property also includes debts.
If a debt was incurred during the marriage, it is presumed to be community debt that both parties are liable for regardless of who made the purchase.
It is important to identify the existence of any possible property issues at the initial stages of your case. Denham Family Law, APC, my Chula Vista-based law office, is experienced in the technicalities of property division. Call 619-777-8190 or email me for a an initial consultation.