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What a divorce lawyer needs to know about community property division

  • Time:2018-01-05
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What a divorce lawyer needs to know about community property situation for the purpose of property division in divorce cases
For community property, a divorce lawyer needs to know real estate, bank deposit, shares, stock, furniture, jewelry, vehicles, investment and all other valuable properties. It’s also needed to know whether there is any special agreement (e.g., pre-marital property agreement) regarding property ownership. 
For real estate, the attorney shall understand the following things:
1. The time and place of the purchasing, the status of the real estate purchased;
2. The nature of the real estate, for example, is it a commercial housing or affordable public housing;
3. The contract price of the real estate when this property is purchased.
4. The source of the fund for paying this real estate.
5. If the house is purchased with a loan, the information regarding the first installment and information of the loan, such as the amount of loans, the main lender, the current loan balance.
6. Real estate ownership record.
7. Mortgage information of the property.
8. The current situation of people who are staying in the real estate.
9. The Hukou status attached to the real estate.
10. Other useful information related to the real estate.
For the bank deposit, the attorney needs to know:
1. Whether the other party knows the other party’s bank deposit information; 
2. Whether the client knows the other party’s bank account number, the name of the bank where the account is created. 
3. Approximate amount of deposit balance. 
For the open market stocks, the attorney needs to know:
1. The funds account and shareholder code of the other party;
2. The security company relating to the stock account.
3. The current market value of the stocks in the stock market;
4. Whether there is any account not under his own name;
For the car ownership, the attorney needs to know:
1. Car models
2. License number
3. The time when it’s purchased
4. Whether it’s secured with loans or not
5. Current car owners registered and actual users;
6. The current vehicle market value.
For investment, the attorney needs to know:
1. A company’s name that the spouse invested
2. Registration time of the company, place of registration, the registered capital.
3. Number of shareholders of the company, shareholding information.
4. Whether there is any change in the company or the company's registered capital.
5. The Company's financial status and the owners' equity of the financial statements at the end of last year.
6. Other investment-related information.
At the reception consultation stage, the lawyer may not ask about the detailed situation of furniture and electrical appliances. The approximate market value of furniture of them is needed though. 

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