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In California, each spouse or partner owns one-half of the community property. And, each spouse or partner is responsible for one-half of the debt. Community property and community debts are usually divided equally.If the debt was incurred during your marriage or domestic partnership, it belongs to you too.

Marital property refers to property that belongs to the marriage, as opposed to separate property, which is separately owned by one spouse or the other. Marital property includes all real and personal property, whether tangible or intangible, acquired by either or both spouses during the course of the marriage.

At divorce, community property is generally divided equally between the spouses, while each spouse keeps his or her separate property. Equitable distribution. In all other states, assets and earnings accumulated during marriage are divided equitably (fairly), but not necessarily equally.

Thus, we have the Moore/Marsden calculation, which is as follows: Add together the dollar-for-dollar reimbursement and the pro tanto share and you get the community interest in the property. Multiply this by this equation: Numerator = Community property payments of principal.

The court determines the spouses' contributions to increase to determined value. Everything else is separate property, and is awarded to the spouse whose property it is.Tennessee is not a community property state, like California or New York. Tennessee is an equitable division state.

Community property states are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin.

Property distribution upon death or separation: When one spouse passes away, his or her half of the community property passes to the surviving spouse. Their separate property can be devised to whomever they wish according to their will, or via probate without a will.

Under Tennessee law, only marital property is subject to equitable division upon divorce. Specifically, marital property is defined as any assets or property acquired by either you or your spouse while you are married.

Tennessee Community Property Classification

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How are assets divided in a community property state?

What is marital property in Tennessee?

How do you divide community property?

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Is TN a community property state?

What is the formula of community property?

What are the 7 community property states?

How is community property divided after death?

What is considered marital property in TN?

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