A form of property ownership in some states that specifies that all assets acquired during a marriage belong equally to both spouses, except for gifts and inheritances given specifically to one spouse.  Their are eight states with such laws, known as community property states.  They include Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas and Washington.  Puerto Rico also uses the community property system, and Wisconsin has a modified community property system.  Alaska has both a common law and a community property system, whereby people can elect which regime they want to apply to specific property  (See Separate Property). 
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