Community Versus Separate Property Overview
How Can One Party Transfer Separate Property Assets To The Community Or To The Other Party?
In order to change or transmute the character of property from separate to community, community to separate, or separate property of one spouse to separate property of the other spouse, there must be a written express declaration executed by the party adversely affected. The statement must be specific as to the item being transmuted. A promise by one party by itself, to transmute, transfer, or give an asset to the other party or the community does not result in a legal gift or transmutation.
Transmutation Of Property
What Is The Difference Between Separate Property And Community Property?
California is a community state and as such, community property is defined as an asset acquired after the date of marriage and prior to the date of separation unless acquired by way of inheritance or gift as it is defined by California law.
Separate property is defined in California as an asset owned prior to the date of marriage, acquired after the date of separation or acquired after the date of marriage and prior to the date of separation by way of inheritance or gift as it is defined by the California Family Code. Income, rents and dividends generated by separate property are separate property.