Parity follows a product rule. Ptot = P1*P2…
Parity changes x è -x , y è -y , z è -z
The space-time characteristics of functions and vectors are defined.
The particle and/or fields can carry with them an intrinsic parity. This has to do with the possibility that the parity transformation can add an additional phase to the states without changing the observable physics. Because the parity transformations return you to the original state the intrinsic parity of a particle may be +1 or –1.
Spin=1, vector is even. Parity =+1. {more complete
discussion}
Intrinsic is defined to match the classical conventions
for E,B,A. Parity =-1.
Spin=1/2, spin (angular momentum) is even. Parity =+1.
Intrinsic
Composite systems mesons, hadrons and final states
Intrinsic part is the product of each constituent.
Examine the parity rules for a composite system e.g. parity of a meson or the parity for the final state of two photons.
Meson
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π
π meson will have an overall parity –1.
πo à γγ
Two photon γγ
intrinsic = -1* -1 = +1

The drawing show the two allowable photon final states A, B. The photons can have their spin parallel or anti parallel to the photon momentum. Photons must combine so that the spin projection cancels because the πo is a spin 0 particle. Also note that parity shifts the momentum direction but not the spin. Therefore the two states that have a definite parity are
State 1 è A+B
State 2 è A-B
Each state has a different parity. State 2 has the required negative parity.
This clearly demonstrates the correct parity. However it doesn’t provide insight into the general rule that allows you to build composite states.
State 2 is an anti symmetric combination of spins.
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(see also http://www.hep.caltech.edu/~fcp/ph195/problemSets/p1950313ss.pdf)
Clebsh Gordon Couplings for two spin 1

Therefore

Which shows that the final 2 photon state is a spin 1 state. The spin must couple to a state of orbital angular momentum L=1 in order to reach a state of J=0. So the relative orbital angular momentum is L=1 and the parity is (-1)L= -1.