The theory that both spouses share equal interest in property acquired during marriage is known as what?

The principle that both spouses share equal interest in property acquired during marriage is referred to as community property. This legal concept is grounded in the idea that marriage creates a partnership between the spouses, where both partners contribute to the acquisition of property, regardless of who holds the title. In community property states, any assets and earnings accumulated during the marriage are considered jointly owned and are typically divided equally in the event of a divorce.

Community property laws contrast with common law principles, where property acquired during the marriage may be owned by one spouse or the other, depending on whose name is on the title. Commission relates to payments owed to brokers or agents for services rendered and is not related to property ownership. Commingling refers to mixing personal funds or property with marital assets, which can complicate ownership claims but does not define the equal ownership principle itself. Thus, community property accurately captures the idea of shared ownership between spouses for assets acquired during the marriage.