Common Law States

Most states, except those listed as community property states below, use the "common law" system of property ownership. In these states, it's usually easy to tell which spouse owns what. If only your name is on the deed, registration document, or other title paper, it's yours. If you and your spouse both have your name on the title, you each own a half interest in the property unless the title document says otherwise. If an item doesn't have a title document, generally you own it if you paid for it or received it as a gift.

Community Property States

If you live in a community property state, the rules are more complicated. But in general:

spouses own equally almost all property either one acquires during the marriage, regardless of whose name the property is in

half of each spouse's income is owned by the other spouse during the marriage, and

debts incurred during marriage are generally debts of the couple.

In community property states, the following is separate property:

gifts given to one spouse

property either spouse owned before the marriage and kept separate during the marriage, and

inheritances.

The community property states are: Alaska (by agreement), Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. (In Alaska, spouses can sign an agreement making specific assets community property.)