Property Division

California law requires that all community property be divided equally absent a written agreement to the contrary, and that all separate property be conferred to the spouse to whom it belongs.

Community Property

Generally speaking, community property is defined as any asset acquired or income earned during marriage.

Separate Property

Separate property is defined as any asset acquired or income earned prior to the marriage, along with any gift, devise, or bequest, whether received during marriage or not.

The law requires that the net value of community property assets received by each spouse during the division be equal. Accordingly, the law does not require an "in kind" division of community property. Therefore, it is not uncommon for one spouse to be awarded the family residence, with the other spouse receiving the family business and investment real estate. Assuming that the total net value of the assets being received by each spouse is equal, such division is proper.