Louisiana Community Property Partition Form For Spouse
Description
How to fill out Louisiana Petition For Partition Of Community Property With List Of Commercial Property?
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FAQ
Louisiana is a community property state. Marital property (and marital debts) are divided 50-50 when divided by the court. You can alternatively choose to create your own divorce settlement agreement and divide up property in a way that seems fair to you as long as you and your spouse can agree.
Louisiana is a community property state. This means all marital property is usually divided equally in a divorce. However, there are exceptions that apply, including a valid prenuptial agreement, which could change how items are split between the parties.
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.
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, community property is typically divided equally by a 50/50 split of the net value of the marital estate. The net value of the estate simply means the value of community property after accounting for any community debts.