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Common Property Division Questions

Posted by Ahluwalia Law Professional Corporation | May 31, 2013 | 0 Comments

If you are considering or going through a divorce in San Jose, you might have many questions about property division.  Below are some common property division questions that a San Jose family law lawyer can answer.

What is community property in San Jose?

Community property is any property or assets acquired while you were married and until you became separated, except for gifts and inherited property. Debts are part of community property. In San Jose, community property is divided equally between the two spouses. This can involve selling property or assets so that the value is distributed equally to each spouse.

Who gets the house in a San Jose Divorce?

If there are no minor children, the house is sold and the proceeds are divided equally. If there are minor children involved, the custodial parent is normally allowed to live in the family home as long as the children are living there and until they reach the age of majority, or for agreed upon amount of time. Then the house is sold and the proceeds divided equally.

Depending on the financial situations of both spouses, the spouse who lives in the house may be responsible for expenses such as house payments, home owner's insurance, and property tax.

Are pension plans and other employee benefits considered community property in San Jose?

Yes, the portion which was accumulated during the marriage is community property. It can be divided by “cash-out” in which the spouse with the pension or benefits keeps them in their entirety in exchange for property or assets of equal value going to the other spouse. The other method is called “reservation of jurisdiction” and pays the non-employee spouse a portion of the employee spouse's benefits upon retirement.

To learn more about property division, in California, please call San Jose family law attorney Madan Ahluwalia of Ahluwalia Law P.C. (408) 416-3149 or contact us online today.

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