What does community property mean in Arizona?
Arizona is a community property state. Community property generally means that spouses equally share ownership of anything purchased, acquired, or paid for during the marriage no matter who uses the property, who paid for the property, or whose name is on the title to the property.
How does community property work in AZ?
Under Arizona’s community property laws, all assets and debts a couple acquires during marriage belong equally to both spouses. Unlike some community property states, Arizona does not require the division of marital property in divorce to be exactly equal, but it must be fair and will usually be approximately equal.
What is considered marital property in Arizona?
These may include real property, vehicles, businesses, wages and other income, bank accounts, retirement accounts/401(k) plans, business interests and investments, art, furniture, and other valuable items. Likewise, debts may be considered marital property (shared) if they were incurred during marriage.
What does community property include?
Community property generally is everything that spouses or domestic partners own together. It includes everything you bought or got while you were married or in a domestic partnership — including debt — that is not a gift or inheritance.
Can a spouse kick you out of the house in Arizona?
Your spouse can’t legally kick you out of your home if you are included in either of these legal agreements. Even if you or your spouse isn’t included on the lease or mortgage. Plus, Arizona is a community property state.
Can my husband take my 401k in a divorce?
Any funds contributed to the 401(k) account during the marriage are marital property and subject to division during the divorce, unless there is a valid prenuptial agreement in place.
Do you live in a community property state?
In a Community Property State, both spouses are typically considered equal owners of all marital property. In other words, if you live in a Community Property State, whatever you earn or acquire during the marriage is co-owned by both parties, regardless of who earned it or whose name is on the title.
Is Arizona a community property?
Arizona is a community property state. This means that any property (other than gifts or inheritances) you and your spouse acquired during the marriage belongs equally to both parties and any joint debts incurred during the marriage are the equal responsibility of both parties.
What is community property?
Community Property. Community property is a family law term used to refer to all of the personal and real property that a couple acquires during their marriage, which legally belongs to both spouses. If the couple divorces, the community property must be divided and distributed to the parties.