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Meaning of community property

commu'nity prop'erty

Pronunciation: [key]
— U.S. Law. U.S. Law.
  1. (in some states) property acquired by a husband, wife, or both together, that is considered by law to be jointly owned and equally shared.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.