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Community Property is essentially all of the “stuff” you and your spouse accumulated throughout the marriage. Property Division can include furniture, electronics, cars, and houses. Most if not all of your property acquired during a marriage is considered community property. But you need to be aware that property can also include debt.
Arizona is a community property state. The law in Arizona declares that property and debt acquired during a marriage belong to both parties and it requires that the property division and debt be split equitably during a divorce. All property acquired during marriage until the time one party is served with the divorce paperwork is presumed to be community property. In order to protect your best interests and your property, you need to consult with an attorney as early in the process as you can. Protect what is rightfully yours. Call us today at 480-477-8040 and we will make sure that you know what you are entitled to.
Property Division includes real property, a piece of land or a house for example. Property Division also includes your furniture, bank accounts, savings account, investments, deferred compensation plans such as 401Ks or IRAs.
Social Security is not considered community property. Social security law governs your social security account and it cannot be changed in a divorce decree. If you want to know specific information about your social security, contact the Social Security Administration.
The body of law in Arizona, which creates a presumption that property and debt acquired during a marriage, belongs to both parties and require such property and debt to be divided equitably during a divorce.
– A.R.S. § 25-211: “All property acquired by either husband or wife during the marriage is the community property of the husband and wife except for property that is: (1) acquired by gift, devise or descent (2) acquired after service of a petition for dissolution…”
Any and all property acquired before the marriage or after service of the dissolution paperwork is presumed to be separate property.
All property acquired by gift, devise or inheritance during marriage is also presumed to be separate property.