Sec. 34.77.030. Classification of property of spouses.

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A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Except for property that is classified otherwise in this chapter, property of spouses is community property under this chapter only to the extent provided in a community property agreement or a community property trust.

(b)If a community property agreement provides that all property acquired by either or both spouses during the marriage is community property, the property of the spouses acquired during the marriage and after the determination date is presumed to be community property.

(c)A spouse has a present undivided one-half interest in community property.

(d)If the community property agreement provides that all property acquired by either or both spouses during the marriage is community property, income earned or accrued by a spouse or attributable to property of a spouse during marriage and after the determination date is community property.

(e)Community property transferred to a trust remains community property.

(f)Whether or not the community property agreement provides that all property acquired by either or both spouses during the marriage is community property, property that is owned by a spouse at the time of a marriage but before the determination date is not community property except to the extent otherwise expressly provided in the community property agreement.

(g)Whether or not the community property agreement provides that all property acquired by either or both spouses during the marriage is community property, and except to the extent otherwise expressly provided by the spouses in the community property agreement or by the settlors in a community property trust, property acquired by a spouse during marriage and after the determination date is individual property if acquired

(1)by gift or a disposition at death made by a third person to the spouse and not to both spouses;

(2)in exchange for or with the proceeds of other individual property of the spouse;

(3)from appreciation or income of the spouse's individual property except to the extent that the income or appreciation is classified as community property under AS 34.77.130 ;

(4)by a decree, community property agreement, written consent, or reclassification under AS 34.77.060

(b)designating it as the individual property of the spouse;

(5)as a recovery for damage to property under AS 34.77.140 , except as specifically provided otherwise in a decree, community property agreement, community property trust, or written consent;

(6)as a recovery for personal injury, except for the amount of the recovery attributable to expenses paid or otherwise satisfied from community property; or

(7)as a transfer to a community property trust and declared by the trust to be the individual property of the spouse.

(h)Except as otherwise expressly provided in the community property trust, appreciation and income of property transferred to a community property trust are community property.

(i)Community property held by a community property trust or another trust remains community property of the spouses if distributed to the spouses.

(j)Except as provided otherwise in this chapter, this chapter does not alter the classification and ownership rights of property acquired before or during the marriage.