Part 2GENERAL PROVISIONS
Section § 2550
This law says that when a couple is getting divorced or legally separating in California, the court usually has to divide their shared property equally unless the couple has a written agreement or makes a deal in court to do it differently. The court can also decide about the property later if it specifically keeps the power to do so.
Section § 2551
This law section explains that when a couple is dividing their assets, the court must decide which debts belong to both partners together or just one partner individually. The court then assigns responsibility for these debts based on specific rules.
Section § 2552
In a divorce or legal separation, the court usually figures out how much everything is worth as close to the trial date as possible. However, if one spouse provides a good reason and gives 30 days' notice to the other, the court could use a different date after the couple separated but before the trial to determine the value of their property and debts to make sure things are divided fairly.
Section § 2553
Section § 2554
If a couple can't agree on how to split their shared property during a separation, and the property's value is $50,000 or less, the court can send the issue to arbitration. Arbitration is like a private judge who makes the decision. The court's decision about the property's value can't be challenged or appealed. The court can choose to do this arbitration anytime it thinks the couple can't work things out on their own.