Separate Property

What is it? In community property states, property owned and controlled entirely by one spouse in a marriage. At divorce, separate property is not divided under the states property division laws, but is kept by the spouse who owns it. Separate property includes all property that a spouse obtained before marriage, through inheritance or as a gift. It also includes any property that is traceable to separate property -- for example, cash from the sale of a vintage car owned by one spouse before marriage-and any property that the spouses agree is separate property. Compare community property and equitable distribution.

Added By: Christopher

Send To Friends!

If you'd like to send the Separate Property definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -

We hope you now understand the meaning of Separate Property. If you need any more information on this term, please don't hesitate to contact us.