Warning
Info
Warning
Info
Simple English definitions for legal terms
domestic-partnership property
Read a random definition: seeming danger
A quick definition of domestic-partnership property:
Domestic-partnership property is property that would be considered marital property if the partners were married. Property refers to the right to possess, use, and enjoy something, whether it's land or an object. There are different types of property, such as corporeal property (physical objects) and incorporeal property (proprietary rights that are not physical). Domestic-partnership property is important for couples who are not legally married but want to share property rights.
A more thorough explanation:
Domestic-partnership property refers to property that would be considered marital property if the partners were married. This means that if two people are in a domestic partnership and they acquire property together, that property is considered joint property and is subject to division if the partnership ends.
For example, if a couple in a domestic partnership buys a house together, that house would be considered domestic-partnership property. If they were to break up, they would need to divide the value of the house between them.
This concept is similar to community property, which is property acquired during a marriage that is subject to division in a divorce. However, domestic-partnership property applies to couples who are not legally married but have a recognized domestic partnership.