Common Law and Community Property States Fastfax #1151

May 03, 2011

Community property is defined as “property owned in common by a husband and wife as a result of its having been acquired during the marriage by means other than an inheritance or a gift to one spouse, each spouse holding a one-half interest in the property.” There are nine states that observe community property: AZ, CA, ID, LA, NV, NM, TX, WA and WI. The following section is a compilation of community property laws for the all the states that follow this legal principal.