Community property

Community property refers to a specific type of property ownership system where any assets acquired during the marriage are considered jointly owned by both partners, regardless of whose income or efforts were used to acquire them. This means that in the event of a divorce without a prenup, all assets and debts acquired during the marriage are divided equally between the partners.

This system is mainly used in certain states in the US like Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin.

Community Property can include assets such as income, real estate, bank accounts, and investments that are acquired or increased in value during the marriage if you do not choose to keep them separate.