Prenuptial Agreement / Personal Property Acquired

Tied together with the degree to which income is kept separate or comingled and/or one or more community property accounts are established, is the acquisition of personal property items. For most parties, it is typically easiest to address the issue of “who owns the new sofa, etc.” by simply establishing one or more community accounts and agreeing what may be purchased with those funds in different circumstances. The one exception is sometimes the purchase of automobiles. Although the “family SUV” is typically purchased and/or paid for with funds from a community property account, the parties can also agree to contribute a certain percentage to any such purchase. Titling to such vehicles is based upon whose money was spent.