Community Property Financial Glossary

What is it? Refers to assets or a method of ownership. Generally, it means that each spouse owns a 50 percent interest in an account. Upon the death of one spouse, the survivor claims his or her ownership of one-half of the asset. The other half will pass in accordance to a will or to law. Each state has different laws and interpretations.

Finance Term Definition Added By: Juliana

Send To Friends!

If you'd like to send the Community Property definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -

We hope you now understand the meaning of Community Property. If you need any more information on this term, please don't hesitate to contact us.

Other Similar Finance Terms:

Financial Term Professional Corporation (PC) See PA. is See PA.

Financial Term NCP is See National contact point

Financial Term Repossession is This is when a borrower fails to pay back their loan in accordance with the terms and conditions of their loan and the lender takes legal ownership of the property, usually ejecting the people who live there

Financial Term debt service coverage (DSC) is The margin by which all of a borrowers or bond issuers required principal payments (not just those for the loan under consideration or just those for loans to one bank) are exceeded by the sum of the firms cash flow plus all of the principal repayments and interest expense deducted in the process of calculating that cash flow.

Financial Term Initial Public Offering is This is when a privately held company makes a public offering to sell shares in the company.