While community property sounds fancy, it’s basically a rule in some states about how married couples share stuff. In a community property state, all the cool stuff you get after you tie the knot, like a new car or a fancy lamp, belongs to both of you equally. It doesn’t matter who paid for it.

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That principle also applies to debts, like if one of you gets a loan after you get married.

Things you owned before you got married, or gifts you get after, are separate property and are just yours. Things can get tricky if you mix your separate items with the community belongings. This guide mentions some tips to keep your items separate, like having different bank accounts for your money and some you use for the family. Alternatively, you can make a special agreement before or even after you get married, sorting out what belongs to whom.

If you’re living it up in California, one of the most famous community property states, you and your honey have built up quite the stash together. A cute little home, a snazzy car, and maybe even a fur baby or two. Now, if things hit the skids, and you decide to part ways, guess what? That house, that car, even Fluffy the cat – they’re all up for grabs, split right down the middle.