Also known as "marital property".
This legal definition exists to protect spousal rights. Generally, the spouse of the retirement account owner who resides in a community or marital property state must be the sole primary beneficiary of an investment account designated as marital property, unless the spouse provides written consent to have someone else designated as primary beneficiary of the retirement account. Usually, gift and inherited assets are not considered community property.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
community property — see property Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. community property … Law dictionary
community property — Property owned in common by husband and wife each having an undivided one half interest by reason of their marital status. The nine states with community property systems are Louisiana, Texas, New Mexico, Arizona, California, Washington, Idaho,… … Black's law dictionary
community property — ☆ community property n. in certain states of the U.S., property acquired by a husband or wife, or by both, during marriage and consequently owned in common by both … English World dictionary
Community property — For the Steel Panther song, see Feel the Steel. Community property is a marital property regime that originated in civil law jurisdictions and is now also found in some common law jurisdictions. The states of the United States that recognize… … Wikipedia
community property — U.S. Law. (in some states) property acquired by a husband, wife, or both together, that is considered by law to be jointly owned and equally shared. [1920 25] * * * Property held jointly by a husband and wife. In states having a community… … Universalium
community property — A system, derived by several states through adoption or succession from the Spanish, Mexican, or French law, relative to property rights of husband and wife, the essential principle of which is that the earnings of either spouse by his or her… … Ballentine's law dictionary
community property — noun property and income belonging jointly to a married couple • Hypernyms: ↑property, ↑belongings, ↑holding * * * comˌmunity ˈproperty 7 [community property] noun … Useful english dictionary
community property — Assets of a married couple belonging to both people. Divorce laws vary in the United States, with some states being community property states … American business jargon
community property — com munity .property n [U] law property that is considered to be owned equally by both a husband and wife in US law … Dictionary of contemporary English
community property — com munity ,property noun uncount LEGAL the idea that property owned by either a husband or wife is considered to be owned equally by both … Usage of the words and phrases in modern English