What type of property is considered community property?

Community property refers to the legal framework governing the ownership of assets and income acquired by spouses during their marriage in certain jurisdictions, including Texas. Under the community property system, all acquisitions made during this marital union are considered to be jointly owned unless explicitly classified otherwise. This includes wages, salaries, and property purchased with those earnings.

The key aspect of community property is that it recognizes the contributions of both partners to the marriage, thereby treating all acquired assets as belonging equally to both spouses, regardless of who actually purchased them. This foundational principle underlies the idea that marital efforts and income are shared, thus making every acquisition during the marriage community property.

In contrast, property inherited, property purchased with joint funds, or property acquired prior to the marriage does not fall under the community property definition unless specific conditions apply, such as a gift or bequest during marriage that could later influence property status.