Property Ownership
Community property in California means:
AProperty owned by a homeowners association
BProperty owned equally by a married couple, acquired during marriage✓ Correct
CProperty shared by neighbors
DProperty owned by a corporation
Explanation
Community property is property acquired by a married couple during marriage. Each spouse owns an undivided half interest. Property owned before marriage or received as a gift/inheritance is separate property.
Related California Property Ownership Questions
- In California, which form of co-ownership includes the right of survivorship?
- The four unities required to create a joint tenancy are:
- A deed that conveys title with the grantor's guarantee of defending the title against all claims is a:
- A California homeowner has lived in their primary residence for 2 of the past 5 years and is selling it. What is the maximum federal capital gains exclusion available to a single filer?
- A property owner grants a neighbor the right to cross their land to access a public road. This arrangement is best described as:
- What is 'escheat'?
- Which type of deed provides the GREATEST protection to the grantee by warranting title against all claims, both during and before the grantor's ownership?
- What is the purpose of a title search?
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