What is marital property? California is a community property state. For this reason, all property acquired during the course of a marriage is presumed to be community marital property.
How do you manage and control marital property? California Family Code Section 1100 outlines a spouse’s right to management and control of martial property. This means that although each spouse is allowed equal management and control of marital property, there are still limitations.
For instance, Family Code Section 1100(b) states: “A spouse may not make a gift of community personal property, or dispose of community personal property for less than fair and reasonable value, without the written consent of the other spouse.” This means that community property acquired by both spouses during the course of their marriage cannot be gifted by one spouse to someone else for less than a fair and reasonable value without the other spouse’s written consent.
Other limitations (as to the management and control of marital property) are found throughout Family Code Section 1100. Thus, if you are unsure of the rights you have as to the management and control of your marital property, it is best to consult with an experienced family law attorney.
Authored by IRWIN & IRWIN.
IRWIN & IRWIN Family Law is located in Fullerton and Newport Beach, California. We provide a full suite of family law services from divorce litigation, divorce mediation, child custody issues, domestic violence restraining orders and representing minors in court. “Every situation is different, and some come with very complex financial issues. Our legal team is here to support you during a very troubling time and prepare you for court, or to at least help negotiate or mediate the issues out to establish an equitable legal resolution,” says Kelly Irwin, Senior Litigator at the firm.