Subject:  50% Community Property Law
Date:  Thu, 11 Jul 2002
From:  Anonymous

Hello Mr. Gray,

I am legally married, but not living with my husband. Are all our properties and money acquired during the course of the marriage 50% of each other, even if acquired with someone else?

Please advise,

Thanks

Answer

Date:  Wed, 31 Jul 2002

Hello,

Not necessarily. I can't go into the details of title here, but you can acquire property that is not community property. For example, if you inherit property during your marriage, it is probably separate property. Also, since you are not living together, if you do not intend to get back together, your earnings may be separate property. I recommend that you consult with an attorney who specializes in family law to find out about your individual situation.

Good luck!
Mike Gray

We have more answers to frequently asked real estate tax questions! We also offer up-to-date information about new tax real estate tax developments in Michael Gray, CPA's Real Estate Tax Letter.

Subscribe to Michael Gray, CPA's Tax & Business Insight Name: Email: We respect your email privacy Powered by AWeber Email Marketing