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Community property
Meaning
Noun
●
In Law:
Property
acquired
during a
marriage
, excluding
gifts
and
inheritances
, that is
owned
jointly
by both
spouses
and is
divided
upon
divorce
,
annulment
or
death
(in the United States:
marital
property
as
divided
equally
in California and some other
states
,
as opposed to
equitable
distribution
, the
practice
in most
states
).
Sourced from
Wiktionary
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