§3.07 Single Asset

When economic circumstances warrant, you may award an asset of the community estate to one party on such conditions as you consider proper to effect a substantially equal division of the community estate. [FC §2601.] The "economic circumstances" that would empower you to award an asset to one spouse are limited to circumstances when the asset is not subject to division without impairment. [Marriage of Brigden (1978) 80 CA3d 380, 392.]

For example, it is proper to award all the community interest in stock in a closely held corporation to the spouse who is employed by the corporation when the other owners will dissolve the corporation if the nonemployee spouse is awarded any of its stock. [Marriage of Clark (1978) 80 CA3d 417, 420-421.] Impairment may also be found when trying to split an ongoing family business, or trying to divide a family residence used by the custodial spouse when there is no adequate replacement, or when trying to split shares of a close corporation that is essential to one party's ability to earn a living. But when a stock is traded on a national exchange and its possession is merely helpful to one spouse, economic circumstances do not warrant awarding the entire block to that spouse. [Marriage of Brigden (1978) 80 CA3d 380, 393.]