CALIFORNIA FAMILY CODE
MANAGEMENT AND CONTROL OF MARITAL PROPERTY
Family Code Section 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.
(2) Rendering upon request, true and full information of all things affecting
any transaction which concerns the community property. Nothing in this
section is intended to impose a duty for either spouse to keep detailed
books and records of community property transactions.
(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.