Effect of how Title is Taken Flashcards
“Joint and Equal Form”
means the title lists both spouses names – “Harry and Wanda Smith,”
What case is applied when evaluating when spouse takes title using SP during marriage upon DEATH of spouse?
Look for Marriage of Lucas: presumption that buying property during marriage using SP is a gift to the community, no claim for reimbursement on divorce unless spouse can establish there was an agreement
What statute is applied when evaluating when spouse gets possession or reimbursement when SP used to buy CP upon the DIVORCE OR SEPARATION of spouses
Anti-Lucas statute: For purposes of division of property on divorce or separation, property acquired during marriage in joint and equal form is presumptively CP, and is subject to equal division on divorce.
Anti-Lucas statute CP presumption rebutted for OWNERSHIP how? when does it apply?
Express statement in the deed or other instrument of title that the property (or portion thereof) is SP;
Written agreement by the parties that the property (or portion thereof) is SP.
When the spouses take A TITLE OR DEED in ‘joint/equal form’
Anti-Lucas statute CP presumption rebutted for REIMBURSEMENT how? When does it apply?
When there’s a divorce/separation, spouse making contributions with their SP to acquire the CP is entitled to reimbursement for their contributions to Down Payments, Improvements and Principal payments/mortgage
Applies when there is a TITLE OR DEED and take in ‘joint/equal form’ so if deed only names one spouse, anti-Lucas doesn’t apply