Tagged: community-property-state
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Washington Community Property State
Posted by Gustan on July 24, 2023 at 12:58 pmWashington is one of nine community property state.
Rocky replied 3 weeks, 6 days ago 3 Members · 2 Replies -
2 Replies
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Yes WA State is a community property state. Things owned prior to marriage are still individual assets unless it is commingled during the marriage. So it’s important to keep prior assets separate. Once you commingle the assets it also becomes community property.
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Both spouses are deemed equally owning the community property of assets and debts purchased during the marriage. If you take a mortgage loan, for instance, this is regarded as community property. For this reason, both couples are accountable for the loan.
Below are the community-property states that exist in the United States of America:
- Arizona
- California
- Idaho
- Louisiana
- Nevada
- New Mexico
- Texas
- Washington
- Wisconsin.
Alaska, Florida, Kentucky, South Dakota, and Tennessee have community property systems that are not mandatory.
As you have pointed out, it is best to maintain separate assets acquired before marriage aside from commingling with assets purchased during the marriage. Once assets are commingled, then they become community property.
If you live in a community property state, all assets and debts incurred during the marriage are jointly owned by both spouses. Hence, if you take a mortgage loan for any reason, it is considered community property, and you are liable for it equally.
Following are the community property states in the United States:
Arizona
California
Idaho
Louisiana
Nevada
New Mexico
Texas
Washington
Wisconsin.
In addition, Alaska, Florida, Kentucky, South Dakota, and Tennessee have optional community property regimes.
Maintaining those assets acquired before marriage is critical as non-marital separate property unless assets are commingled, as you said. When assets are commingled, they become community property for the most part. In areas with community property laws, it has to be defined that every asset and debt acquired during the marriage is owned by both spouses equally. For instance, if a couple takes out a mortgage loan, it would fall under community ownership, and both partners would have an equal obligation.
This is a list of the community property states in the United States:
Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin.
In addition to the above, Alaska, Florida, Kentucky, South Dakota, and Tennessee possess community property systems that can be adopted.
As you have already pointed out, it is key that properties obtained before the marriage remain segregated except if they are mixed during the marriage. Once people mix their assets, they will most likely become community property.