Legal TermsHomebuying Glossary
Community Property
A legal framework (in some states) where property acquired during marriage is jointly owned by both spouses.
In plain English
In community property states, most property and debt acquired during a marriage is considered equally owned by both spouses, regardless of whose name is on the title or who earned the income used to buy it.
Why it matters
How you hold title can matter for taxes, inheritance, and what happens in a divorce — worth a conversation with an attorney if you're buying with a spouse.
Related terms
Not sure where this fits in your process?
Answer a few questions and get a personalized homebuying roadmap — where you are now, what comes next, and which terms like this one matter at each step.
Start your roadmap