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USA Property

Community Property States vs. Common Law States

SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. Property division in a divorce depends on whether the state follows community property or common law rules. In community property states, most assets acquired during the marriage belong equally to both spouses and are typically split 50/50. In common law states, assets generally belong to the spouse who acquired them unless they are jointly owned. These rules determine how property and debts are divided when a marriage ends. A financial advisor can help you...