Legal Definitions - community estate

A community estate refers to the total assets and debts that are owned in common by a married couple in a community-property state. This means that any property or debt acquired during the marriage is considered jointly owned by both spouses.

For example, if a couple in a community-property state buys a house together during their marriage, the house would be considered part of their community estate. Similarly, if they take out a joint loan, the debt would also be part of their community estate.

Another example would be if one spouse owns a business and the other spouse contributes to the business during the marriage, the business would be considered part of their community estate.

Overall, a community estate is a legal concept that recognizes the joint ownership of property and debt between married couples in certain states.