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Community Property
Rules
42
Other
Professional
04/23/2010

Additional Other Flashcards

 


 

Cards

Term
FC 125

Definition of Quasi Community Property
Definition
Quasi Community property is all real or personal property, wherever situated, acquired while the parties were domiciled in another state, but would have been CP had they been domiciled in CA at the time.
Term
FC 297

Requirements for valid RDP?
Definition
Registered domestic partners have the same rights and responsibilities as married couples. To be a valid RDP must (1) share common residence, (2) not be married or in another RDP with anyone else, (3) not be blood related, (4) be capable of consenting, and be over 18, (5) be of the same sex OR of opposite sex and over the age of 62, and (6) filed a Declaration of Domestic Partnership with the Sec. of State
Term
FC 300

Def of Marriage
Requirements for valid marriage
Definition
Marriage is a personal relationship between a man and a woman arising out of a civil contract. Requirements (1) man and woman (2) who are capable to marry (3) consent to getting married (4) get a license (5) say the words in front of witness (6) return authentication to county recorder
Term
FC 308

Out of state marriage recognition
Definition
An out of state marriage contract that is valid by the rules of that state will be recognized by CA
Term
FC 308.5

Exception to out of state marriage recognition
Definition
Even if valid in the laws of the state, CA will not recognize gay marriage
Term
FC 310

Dissolution of marriage
Definition
A marriage is dissolved by (1) dissolution of marriage, (2) death of one spouse, or (3) judgment of nullity of marriage
Term
FC 760
Definition
Property acquired between DOM and DOS is presumed to be CP, overcome by preponderance of the evidence by tracing purchase to SP funds.
Term
FC 760 & FC 770

Definition of Community Property
Definition
CP is all things acquired between DOM and DOS except those things acquired by gift, devise, bequest, or decent with rents, issues and profits therein
Term
FC 770(b)
Definition
A married person can convey their separate property without consent of the other spouse
Term
FC 771
Definition
Earnings after the DOS are separate property
Term
FC 803

Married woman's presumption
Definition
Property acquired before 1975 in a married woman's name alone is presumed to be her SP. Can over come by POTE
Term
FC 852

Valid Transmutation
Definition
For a transmutation to be valid, there msut be a valid writing signed by the adversely affected spouse that expressly declares an intent to transmute.

A transmutation in a will is not valid until after death, therefore cannot use a transmutation in a will as the required writing under this rule at divorce (before death)
Term
FC 851
Definition
Transmutation is subject to the rules involving fraud. This means you cannot transmute to avoid creditors
Term
FC 910
Definition
A creditor can come after CP money to pay for a debt that was acquired before marriage
Term
FC 915

2 debts that are SP

How does the community get reimbursed if they paid these debts?
Definition
Even if acquired during marriage, debts for child support or spousal support are SP debts. If the community pays these debts, the community can be reimbursed for the last 3 years of payments ONLY IF there was an SP available that could have been used to pay the debt.
Term
FC 920
Definition
The community can seek reimbursement for the last 3 years of debts paid toward a SP debt
Term
FC 1100
Definition
One spouse can unilaterally sell personal property that is CP as long as it is sold for FMV
Term
FC 1101
Definition
When a spouse breaches his fiduciary duties, the other spouse is entitled to half the gain from the breach
Term
FC 1102
Definition
Real property cannot be sold, encumbered, or rented out for longer than a year without WRITTEN CONSENT OF BOTH parties
Term
FC 1612
Definition
Cannot waive independent counsel when waiving spousal support in a prenuptial. Unconscionability of waiver determined at DOT not DOM.
Term
FC 1615
Definition
A prenup cannot be unconscionable. This means that in addition to writing and full disclosure, it must be entered into knowingly and voluntarily.
Term
FC 2102
Definition
721 Fiduciary duties continue past DOS until the division of assets
Term
FC 2201
Definition
A marriage is not automatically void for being 'already married' if the other spouse has been missing and is not known to be living for at least 5 years, or if the other spouse is generally believed to be dead.
Term
FC 2202

Voidable marriage
Definition
Even if the conditions of 2201 are met, the marriage is still voidable (just not automatically void)

Marriage is voidable if a spouse is (1) underage (2) unsound mind (3) marriage procured by fraud or force (4) physical incapacity that continues and appears to be incurable

However, if in any of the above the conditions are cured, and the spouse freely cohabitates with the other spouse, then the marriage is not voidable.
Term
FC 2251
Definition
If the court deems a person to be a putative spouse, then the property acquired while the spouse was putative is quasi marital property, which is treated like CP.
Term
FC 2252
Definition
Debts created while a couple are putative spouses is treated like CP debt.
Term
FC 2254
Definition
In a putative spouse case, the judge can order spousal support for one party to pay the other.
Term
FC 2250 -

Equal Division Rule
Definition
Equal Division Rule: The court must identify CP and split it between the parties equally. The division must be as close to "in kind" as possible.
Term
FC 2250(a)

When is property valued?
Definition
Property is valued at the date of trial.
Term
FC 2250 (b)
Definition
For good cause, the court can value an asset at DOS.

Note: The only time good cause has been shown was for CLOSELY HELD BUSINESS in Green Case.
Term
FC 2581
Definition
Property acquired in joint form is presumed CP. Can only overcome with an express writing to the contrary.

Note: Even if bought with SP money, JT makes it CP if no express writing to the contrary
Term
FC 2603

Personal Injury Award
Definition
The first 1/2 of a personal injury award acquired in marriage must go back to the injured spouse. THe second half the court has discretion to decide what to do with it.
Term
FC 2622(b)
Definition
The court can award all of the debt (or most of it) in a truly negative estate to the party who is most able to pay it
Term
FC 2623

Definition of Community Debts
Definition
Debts created between the DOM and DOS are CP debts if they were created for the necessities of life.
Term
FC 2626

Epstein Credit
Definition
Epstein Credit: If a spouse makes a payment on CP assets after DOS, that spouse is entitled to reimbursement for 1/2.
Term
FC 2640
Definition
Post 1984: SP contributions to CP asset, SP gets back dollar for dollar off the top of the asset for (1) acquisitions, and (2) improvements.
Term
FC 2640(b)
Definition
SP does not get reimbursed via 2640 if the SP holder made a written waiver that specifically waived these 2640 rights....

Must be specific
Term
FC 2640 (c)
Definition
Gives dollar for dollar off the top of a SP asset when other spouses SP money was used for acquisitions and improvements.

Only applies after 2005

SP (!) to SP (2) transmutation
Term
FC 2641

Requirements for Community Education Reimbursement.
Definition
The community can be reimbursed for payments it made towards the education of a spouse. Can only be reimbursed for (1) tuition and books, and (2) only if the education substantially increased the educated spouse's earning capacity.
Term
FC 2650
Definition
The court can divide the property held in JT or Tenants in Common in the same manner as it divides community property.
Term
Evidence Code 662
Definition
Title of property is presumed correct. Can be overcome by Clear and Convincing
Term
10 USC 1408
Definition
Enabling statute that allows states to divide civil retirement plans in accordance with the way it would divide state retirement plans.
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