Arizona is a community property state. When a couple decides to divorce here, their marital assets will likely be divided equally between each spouse, regardless of who bought what.
What is considered marital property in Arizona?
There is a presumption under Arizona law that any assets or debts acquired during a marriage are community property, meaning property that is owned jointly by both parties. Property that was owned by one spouse prior to the marriage or is inherited or acquired as a gift is considered separate property.
What is community property law in Arizona and why does it matter?
What is Community Property Law in Arizona and Why Does it Matter? Arizona is a community property state and community property law controls the division of all assets of your marital estate.
Can a married couple own real estate in Arizona?
Community Property with Right of Survivorship in Arizona Like many western states, Arizona allows legally married couples to own real estate as community property, with or without rights of survivorship. The rules and definitions are set forth at Section 33-431 of the Arizona Revised Statutes.
What is community property with right of survivorship in Arizona?
Community Property with Right of Survivorship in Arizona. Generally, anything that a married couple accumulates during the marriage is considered community property. Assets acquired prior to the marriage, or gifts, wills, and inheritances are usually sole and separate (individual) property. The principles of community property are meant…
Can a surviving wife take all the community property?
Whereas, some statutes provides for the surviving husband to take all the community property but a surviving wife is to take only one half of the community property. If a spouse kills the other spouse s/he will not be permitted to profit from the wrongdoing.
