Community Property - What's His, Mine, and Ours in Louisiana?
Community property issues often arise throughout divorce proceedings, which could lead to several heated discussions of how community assets and debts will be divided among the parties. In Louisiana, however, the law states that all community property is jointly owned between both parties equally.So, What Constitutes Community Property?
Absent a prenuptial agreement, generally any property acquired during the marriage is considered to be community property. This may include assets and debts earned during the marriage such as income, furniture and equipment, automobiles, mortgages and real estate, and retirement benefits, among many other assets.Do I Have Any Separate Property?
Separate property belongs exclusively to one spouse. In a marital regime, separate property can generally be classified as anything that was owned prior to the marriage, anything that was inherited or gifted to a spouse during the marriage, as well as any property or asset acquired after the parties have been declared separate in property.
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