Effect on Title Flashcards
1
Q
Community Property with Right of Survivorship
A
1) One spouse can convey or encumber the other share 1/2 CPWRS interest without other spouse joinder- even if CP.
2) Divorce: Equal distribution
3) Death: ROS and new basis at death of income tax.
** May transfer or encumber 1/2 interest
2
Q
Effect on How Title
Aquisition or improvement
A
If one party contributed SP to Acquisition or improvement of the JT property, the court may provide for reimbursement
* without interest and without any adjustment for increase in property value.
Take into account:
1) Intent of parties putting prop in JT
2) Length of marriage
3) any other factors.