What does Community Property mean?

Community property is a type of ownership in which property acquired by a married couple during their marriage is owned jointly by both spouses. In community property states, property acquired before the marriage or through inheritance is generally considered separate property.

Related Terms

Buyer's Market Return On Equity (ROE) Tenancy By The Entirety Financing Contingency Undisclosed Spouse Corporate Relocation Rack Ground Lease Mint Condition Square Footage Default Truth-In-Lending Act Two- To Four-Family Property Growing-Equity Mortgage Depreciation Capital Expenditure Encroachment Prepaid Interest