The parties involved have already divided some community property in agreement and would like to keep it out of the settlement agreement. Is there any associated risk?
Although the divorce process may be going along peacefully, I would suggest you disclose everything including separate property. Both parties have a duty to fully disclose their assets and debts. If the court judgement does not address a particular asset, it is considered unadjudicated. The other party can go back to court and request that particular community property asset(s) and/or debt(s) be divided. It is considered an "omitted asset" and if the court finds fraud in failure to disclose, it can award the entire value of the asset to the other party. Unless there is a real good reason to not disclose the asset or debt, it is better to avoid the potential risk and disclose it now rather it become an possible issue later.
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The better and more completely you address your agreement's terms, the less likely that there will be future misunderstandings.
Besides, even if you think it's stupid, the Family Code actually requires you to list everything, including debts, retirement plans, etc. You can't get divorced unless you swear that you've done this. If your ex can later prove that you didn't list something (it's an "omitted asset"), then they can theoretically raise that issue at a later date. I realize that you figure this is not too likely, but what would it "cost" you to list your cars, etc.?
Legal disclaimer: The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. Attorney is licensed to practice law only in the State of California. Responses are based solely on California law unless stated otherwise.
No - Absolutely not and don't even think of it. A judgment or MSA MUST dispose of all assets and debts of the marriage, regardless of them being community or separate property.
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