Louisiana Community Property Partition Form For Divorce
Description
How to fill out Louisiana Petition For Partition Of Community Property With List Of Commercial Property?
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FAQ
The voluntary partition of community property during marriage converts the property partitioned from the community to the separate property of the recipient spouse.
In Louisiana, any assets that you will acquire during the subsistence of marriage is considered community property unless otherwise classified as separate property. Under this system, both spouses are entitled to equal share(50-50) of the interest in all assets acquired during marriage.
With few exceptions, the court will first value all of a couple's community property and assets. Those assets are then divided so that each spouse receives one-half of all their community property. In some cases, the court may order that certain assets be sold and the proceeds be split equally between the two spouses.
Yes, Louisiana is a community property state. Basically, that means that during the marriage, both spouses have an equal interest in all of their property, except for assets and debts that are considered separate property (as discussed below).
With few exceptions, the court will first value all of a couple's community property and assets. Those assets are then divided so that each spouse receives one-half of all their community property. In some cases, the court may order that certain assets be sold and the proceeds be split equally between the two spouses.