Community Property
A system used in 9 states where most property acquired during marriage is owned equally by both spouses, regardless of who earned the money or whose name is on the title. Community property states include Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin.
Legal Definition
A marital property regime in which property acquired by either spouse during the marriage (other than by gift, inheritance, or from separate property) is owned equally by both spouses as an undivided one-half interest.
Practical Example
In California (a community property state), if one spouse earns a salary and buys a car during the marriage, both spouses own half of that car even though only one spouse's name is on the title.