Community Property

Note: The following are general definitions. Any particular term may be defined differently by a particular statute, case law, or the definitions section of the document in question. Consult legal counsel before acting on any information contained in this website.

Community Property

(As of January 2008. Definitions and statutes may change after this date.)

In some states, the law requires that all assets obtained during marriage belong equally to both spouses, excluding gifts and inheritance given specifically to one spouse. Such assets are termed community property. However, Colorado is not a community property state. Colorado state law requires an equitable division of marital property. Colorado court usually assumes that each spouse contributed to the marriage and the property, and thus an equal division of marital property is fair.