What is the law regarding gifts and marital property?
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What is the law regarding gifts and marital property?
I received art prints from my art publisher employer over a period of time as a show of appreciation for helping land a contract for an artist. The artist then became successful and he also gifted me with some of his prints. My wife is claiming this art to be marital property although it was never listed or claimed as compensation on any tax forms. Is it clear to you to be a gift and separate?
Asked on January 4, 2013 under Family Law, Colorado
Answers:
S.L,. Member, California Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
If you live in a community property state, community property is property acquired during marriage. Community property also includes income during marriage. Each spouse has a one half interest in the community property.
Separate property is property acquired before marriage or after the marriage ends. Separate property also includes income before marriage or after the marriage ends. Separate property also includes income or property received after separation with no intent to reunite. A spouse has no claim to the other spouse's separate property.
The art prints you received are gifts and are your separate property to which your spouse has no claim. Gifts are separate property even if they are received during marriage.
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