separate property


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Separate Property

In marriage and divorce law, real or personal property owned by only one spouse. Separate property exists even in community property jurisdictions. It includes property owned by each spouse before the marriage, and any property given to one spouse as a gift or inheritance. It may also include property that the spouses agree to keep separate. If separate property is liquidated during the marriage (e.g. if a spouse sells a house he/she owns separately) the cash resulting from the sale may also qualify as separate property.

separate property

The property that is entirely owned by one spouse, even in a community property state. Separate property generally includes property received as an inheritance or as a gift or property owned by one spouse before marriage.

separate property

Property owned by either spouse before marriage,or inherited by one or the other after marriage.Contrast with community property. In other states,a divorce court will take into consideration the separate nature of property when making decisions to divide property or award alimony.One tricky aspect of the separate property issue is the interest in minerals,oil and gas,crops, timber, or postmarital improvements on or under separate land.Such interests do not always carry with them the separate property characterization.

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The Court of Appeal reversed, holding that the insurance policy was the wife's separate property.
Quasi-community property is treated as separate property of the acquiring spouse in all cases except for divorce and upon the death of the acquiring spouse.
A bid could split the business into an operating company selling and servicing cars and a separate property company controlling its 71 forecourts
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5 million, Oxnam said he and fellow listing Jennifer McGivern, also of BHS, hope that officially removing it from the listing will make its status as a separate property more explicit to buyers.
7) property acquired with the separate funds or proceeds from the sale of a separate property with the express intention of the spouse at the time of the acquisition to acquire it as a separate property.
For married spouses who file separate tax returns, each one generally has to report half of such income along with 100% of any income from his or her separate property.
Prior to purchasing Yardi Voyager, National CORE utilized two separate property management systems to manage more than 70 properties.
The shares, part of his 20 per cent stake in the firm, were pledged against separate property investments.
Separate property is confirmed and transferred to the separate spouse, and community property is divided equally by total value.
The separate property has a large double garage, utility room, bathroom downstairs and a bedroom upstairs.
She waived her right to maintenance from her partner and also listed assets including 'miscellaneous jewellery and other personal effects', her earnings from after the separation date and other assets to be determined later, as separate property - and thereby off-limits to Federline.