During a dissolution of marriage, both parties will have to list all assets that are community property.
To purposely hide assets during this process can be considered fraud.
If the courts rule that a party has intentionally concealed assets during the court proceedings, the court may set aside the entire judgement.
This is true even if the fraud is discovered after the distribution of assets.
Counsel also has the option to file tort of action for fraud against the offending party.
The court may relief if it was found that the concealment of assets was done because of “Extrinsic Mistake”. An example of an extrinsic mistake is a disability of a moving party when the judgment was entered.
For any property that was not included in the court’s judgement, the court treats it as if it were still owned by both parties as tenants in common. The court still has the ability to pass judgment on the property and divide it accordingly amongst the parties.
This is a Family Law legal blog. It is not intended to be used as legal advice. For further information please contact the law offices of attorney Ramona Kennedy.
Ramona Kennedy (Attorney) received her Jurisprudence Doctorate in America and is a licensed attorney in California (USA).
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