If you are considering a divorce it is important to consider how you and your ex will divide the property acquired. In addition, it is important to be knowledgeable and aware of California divorce laws. It is possible for you and your ex to discuss how you would like to divide the property. If both parties can reach an amicable agreement in regards to property division then their is no need for further legal action. Legal Action will be acquired if both parties cannot seem to reach any type of compromise or conclusion on how to divide the property fairly.
Community property is what will need to be divided fairly. Community property is all of the property and assets that were acquired during your marriage to one another. In certain instances a property may not apply to the community property law. The way to show that the property acquired does not apply is to show proof. Proof required to indicate a particular property is not considered community property would need to be shown in the deed paperwork. Furthermore, if the parties decide between one another and come to an agreement they are able to determine which property they would like to exclude from the community property category.
Furthermore, the way property is assigned to each parties is through what is known as a marital settlement agreement. This agreement must be made by both parties and each party needs to be in agreement with the designations and sign off on the agreement. If the parties are still unable to reach an amicable agreement the judge will assign the property rights accordingly during a court proceeding. If the judge needs to assign property rights to the parties it will be stipulated in what is known as the final dissolution, which is a court order.
For further information regarding divorce and property division please contact Yanez & Associates. Call 714-971-8000 for your free initial consultation!