Once you are divorced from your spouse or separated from your domestic partner, the property that was acquired during your union will need to be fairly divided. Even if this issue was decided upon outside of the court, the judge will need to make a formal order to avoid any legal confusion in the future. However this issue can be settled without having to go in front of a judge. You and your former spouse/partner can make decisions about separating your property and debt with your your attorneys help.
All that's needed to finalize the order and make it official is to have a judge sign off on the agreement you've developed together with your former spouse/partner and attorneys. Without the judge's signature, everything that the two of you have owned during your marriage, including your debts, remain both of yours which means you will both be responsible for all the property and debt together.
The definition of property is anything that can be bought or sold, such as:
-Houses
-Cars
-Clothing
-Furniture
-Electronics
or anything that holds value, like:
-Cash
-Bonds and Stocks
-Pension plans
-Bank Accounts
-Security deposits on apartments
-Life Insurance with cash value
-A business or a patent.
You need to have a good understanding of how property law in the State of California works before you attempt to divide your property after a marriage or domestic partnership.
