The correct answer is community property.
According to California Family Code section 760, community property is defined as "all property, real or personal, wherever situated, acquired by a married person during the marriage while domiciled in the state.". At the end of a divorce, community property is frequently divided equally.
<h3>In California, what does the phrase "community property" mean?</h3>
State community property laws apply in California. As a result, it is often assumed that both spouses own property, obtained by either partner throughout a marriage.
<h3>In California, how can a married couple hold title?</h3>
The most effective option for a married couple to take title is through a revocable trust. When you title property in your trust, you can keep the capital gains step up for the full asset on the first death and avoid probate upon the deaths of the first and surviving spouses.
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