community property
community property
Property held jointly by a husband and wife. In states having a community property system, property acquired by either spouse during the marriage may be deemed to belong to each spouse as an undivided one-half interest. Some property (e.g., gifts to one spouse) may be classified as separate, but in lawsuits over the classification of property the presumption is in favour of the community category. Some jurisdictions extend community property laws to same-sex unions.
This entry comes from Encyclopædia Britannica Concise.
For the full entry on community property, visit Britannica.com.
Learn More About
Seen & Heard 
What made you look up community property? Please tell us what you were reading, watching or discussing that led you here.
