separate property

separate property definition - business

separate property

The property that is entirely owned by one spouse, even in a community-property state. Separate property generally includes property received as an inheritance or as a gift, or property owned by one spouse before marriage.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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