What is the term for property acquired during marriage in a community property state?

In community property states, the term "community property" refers to all assets and debts acquired by either spouse during the marriage, regardless of how the property is titled. This concept is based on the principle that both spouses equally share in the marital wealth.

Community property includes income earned by either spouse and any property bought with that income, as well as other items acquired during the marriage. This designation plays a crucial role in divorce proceedings, as it dictates how property is divided. Each spouse is typically entitled to an equal share of community property upon divorce or separation.

The other terms, while they might seem similar, do not accurately capture the legal framework established in community property states. "Community asset" could imply just a focus on the benefits that come with shared ownership, while "joint property" and "shared asset" are more informal and do not reflect the legal definitions and implications surrounding ownership and rights in community property jurisdictions.