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Simple English definitions for legal terms

community property

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A quick definition of community property:

Community property is when a married couple owns everything they get during their marriage together. This includes things like money, property, and even debt. Some states have community property laws, which means that both spouses own everything equally, no matter who earned it or bought it. Other states have different laws about who owns what.

A more thorough explanation:

Community property refers to assets that are acquired during a marriage by either spouse. This can include property, income, and even debt. In some states, such as California, any income, real estate, or other property acquired by either spouse during the marriage belongs to both spouses. This means that both spouses own everything equally, regardless of who purchased it or earned the income.

  • John and Jane get married and buy a house together. In a community property state, both John and Jane would own the house equally, even if only one of them paid for it.
  • Samantha and David get married and David starts a business. In a community property state, Samantha would have a legal claim to half of the income generated by the business, even if she did not contribute to it directly.
  • Mark and Lisa get married and Lisa has student loan debt. In a community property state, Mark would be responsible for half of the debt, even if he did not take out the loans.

These examples illustrate how community property laws can affect the ownership and responsibility of assets acquired during a marriage. It is important to understand the laws in your state and how they may impact your financial situation.

community interest development | community property with right of survivorship

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above their median for everything chat i'm ending it
I applied NYU on October 8th like r give up right?
16:46
wtf
16:47
i'd reach out to their admissions and check up on it
I did 2x and they said "The vast majority of candidates who have submitted their complete application by our deadline will be notified by the last day of April"
like kinda fucked
16:50
ugh that's so annoying
law schools that ghost should give you your money back
or reject
like man GIVE IT BACK!!!!
ClassyPleasantHeron
16:56
Schools explicitly asking applicants to retake the LSAT are TTTs pretending to be 2nd tier.
LMAOOO
like man oklahoma more like oklahowaboutyoueatmyshoe
me when that person on reddit said UofU wave and it's.... 3 people
help who just posted that right after I started bitching in chat
my heart fell straight into my ass mind u
and i just got a fucking app status tracker update... not for UofU... my BP is so spiked rn
QuarrelsomeTurkey
18:29
does anyone know if bu ever releases after 5 pm
Lol @jupitersmoons It feels like UofU is screwing with us haha
fr like I know it"s Mountain Time but bestie we have less than half an hour before typical EOD
what we doing
Real
19:17
new COAs are out
19:37
Anyone know how long it takes to get aid package after getting admitted to UChicago or Northwestern?
I’d ask in the t14 chat bc lol it may be a bit until you can get someone who can answer that question here
21:19
@syddak: Oof tough spot. Congrats on the As. Did either indicate either via email/mail that they would be following up with aid, and if so, did they provide a time frame? It may be acceptable to email them and indicate seat deposits are fast approaching and you are curious if you can expect further info (aid) from the school to aid u in ur decision..
0:26
@UnderRepresentedTryhard: that’s a greater than sign. Meaning outside t14
0:27
Schools>t14
IrishDinosaur
13:38
I'm convinced USC doesn't really exist
IrishDinosaur
13:38
it's an elaborate hoax
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