Community Property Systems
- community of property - only marital property is owned in joint tenancy, save for gifts and inheritances. (also known as a ganancial community of property or conjugal partnership of gains (Philippines)) (Fr communauté réduite aux acquêts, Sp sociedad de gananciales, Du gemeenschap van aanwinst van goederen, gemeenschap van vruchten en inkomsten, Ger Errungenschaftsgemeinschaft, Ita comunione degli acquisti)
- community of profit and loss - similar to above but liabilities ("loss") are separate. (Du gemeenschap van winst en verlies)
- community of personal and marital property - community consisting of marital property and pre-marital personalty. (Fr communauté de meubles et acquêts, Ger Fahrnisgemeinschaft).
- limited community of property - similar to community of property but with certain marital property being separate. (Fr communauté de biens limitée, Du beperkte gemeenschap van goederen)
- universal community of property - all pre-marital and marital property is owned in joint tenancy. (also known as absolute community of property (Philippines)) (Fr communauté universelle, Sp comunidad absoluta de bienes, Du algehele gemeenschap van goederen, Ger Gütergemeinschaft, It comunione universale dei beni)
Read more about this topic: Matrimonial Regime
Famous quotes containing the words community, property and/or systems:
“Human life in common is only made possible when a majority comes together which is stronger than any separate individual and which remains united against all separate individuals. The power of this community is then set up as “right” in opposition to the power of the individual, which is condemned as “brute force.””
—Sigmund Freud (1856–1939)
“The charming landscape which I saw this morning is indubitably made up of some twenty or thirty farms. Miller owns this field, Locke that, and Manning the woodland beyond. But none of them owns the landscape. There is property in the horizon which no man has but he whose eye can integrate all parts, that is, the poet. This is the best part of these men’s farms, yet to this their warranty-deeds give no title.”
—Ralph Waldo Emerson (1803–1882)
“No civilization ... would ever have been possible without a framework of stability, to provide the wherein for the flux of change. Foremost among the stabilizing factors, more enduring than customs, manners and traditions, are the legal systems that regulate our life in the world and our daily affairs with each other.”
—Hannah Arendt (1906–1975)