Warning
Info
Warning
Info
Simple English definitions for legal terms
ganancial
Read a random definition: Administrative Procedure Act
A quick definition of ganancial:
Term: Ganancial
Definition: Ganancial means something that belongs to both a husband and wife. It is a type of community property that is used in some places like certain states in the United States, Central and South America, Puerto Rico, and the Philippines. This means that when a husband and wife own something together, like a house or money, they both have equal rights to it.
A more thorough explanation:
Ganancial
Ganancial means something that belongs to both spouses in a marriage. It is also known as community property.
- When a couple gets married, their assets become ganancial property.
- If a couple gets divorced, they have to divide their ganancial property equally.
The examples show that ganancial property is something that both spouses own together. It can include things like money, property, and other assets. If the couple separates, they have to split everything equally.