community property

noun

U.S. Law.

1. (in some states) property acquired by either spouse, or both together, that is considered by law to be jointly owned and equally shared.

Word History and Origins

Origin of community property¹

First recorded in 1920–25

Example Sentences

After we married, we could hold it as community property.

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All these awards are community property no matter how people talk about it.

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If you live in a community property state, for example, creditors could come after jointly owned assets if your spouse fails to pay what they owe.

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In community property states such as California, both halves of the house get this step-up.

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For couples without prenups and divorcing in one of the nine community property states, assets accrued during the marriage may be split 50/50.

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