Section 1100 Of Part 4. Management And Control Of Marital Property From California Family Law Code >> Division 4. >> Part 4.
1100
. (a) Except as provided in subdivisions (b), (c), and (d) and
Sections 761 and 1103, either spouse has the management and control
of the community personal property, whether acquired prior to or on
or after January 1, 1975, with like absolute power of disposition,
other than testamentary, as the spouse has of the separate estate of
the spouse.
(b) A spouse may not make a gift of community personal property,
or dispose of community personal property for less than fair and
reasonable value, without the written consent of the other spouse.
This subdivision does not apply to gifts mutually given by both
spouses to third parties and to gifts given by one spouse to the
other spouse.
(c) A spouse may not sell, convey, or encumber community personal
property used as the family dwelling, or the furniture, furnishings,
or fittings of the home, or the clothing or wearing apparel of the
other spouse or minor children which is community personal property,
without the written consent of the other spouse.
(d) Except as provided in subdivisions (b) and (c), and in Section
1102, a spouse who is operating or managing a business or an
interest in a business that is all or substantially all community
personal property has the primary management and control of the
business or interest. Primary management and control means that the
managing spouse may act alone in all transactions but shall give
prior written notice to the other spouse of any sale, lease,
exchange, encumbrance, or other disposition of all or substantially
all of the personal property used in the operation of the business
(including personal property used for agricultural purposes), whether
or not title to that property is held in the name of only one
spouse. Written notice is not, however, required when prohibited by
the law otherwise applicable to the transaction.
Remedies for the failure by a managing spouse to give prior
written notice as required by this subdivision are only as specified
in Section 1101. A failure to give prior written notice shall not
adversely affect the validity of a transaction nor of any interest
transferred.
(e) Each spouse shall act with respect to the other spouse in the
management and control of the community assets and liabilities in
accordance with the general rules governing fiduciary relationships
which control the actions of persons having relationships of personal
confidence as specified in Section 721, until such time as the
assets and liabilities have been divided by the parties or by a
court. This duty includes the obligation to make full disclosure to
the other spouse of all material facts and information regarding the
existence, characterization, and valuation of all assets in which the
community has or may have an interest and debts for which the
community is or may be liable, and to provide equal access to all
information, records, and books that pertain to the value and
character of those assets and debts, upon request.