Property Ownership
Washington is a community property state. A married person wants to purchase investment property using their separate property funds without including their spouse's interest. To clearly establish separate property status, the purchaser should:
ASimply tell the title company it is separate property
BHave the spouse sign a quit-claim deed or statement of separate property✓ Correct
CUse only cash for the purchase
DRecord a declaration of separate property with the county assessor
Explanation
To protect separate property status in a community property state, the non-purchasing spouse should sign a quitclaim deed or a properly documented agreement acknowledging the property as separate property of the purchasing spouse.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Community PropertyIn community property states, most property acquired during marriage is owned equally by both spouses, regardless of who paid for it.
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
State-Specific Concepts
Community Property
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