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Under a community property regime, depending on the jurisdiction, property owned by one spouse before marriage, and gifts and inheritances received during marriage, are treated as that spouse's separate property in the event of divorce. All other property acquired during the marriage is treated as community property and is subject to division ...
Community of Acquests and Gains: Each spouse owns an undivided half-interest in all property acquired during the marriage, except for property acquired by gift or inheritance during the marriage, which is separate property; or which traces to separate property acquired before the marriage, which remains separate property; or which is acquired during a period when the couple are permanently ...
If a home was purchased before marriage, or was inherited, it may be considered separate property. A prenuptial agreement could also outline what’s exempt from marital property.
On the other hand, if a debtor spouse survives a non-debtor spouse, the lien may be enforced against the whole property, not merely the debtor spouse's original half-interest. In many states, tenancy by the entireties is recognized as a valid form of ownership for bank accounts and financial assets.
Oct. 6—Alaska Attorney General Treg Taylor and his wife, Jodi, recently purchased a prominent, 180-room Anchorage hotel, and have laid plans for a $6 million renovation. The Inlet View Tower, as ...
Florida law currently requires the surviving spouse of a quadriplegic to pay a new property tax from which the family was previously exempted. Florida law currently requires the surviving spouse ...
The intestacy laws of certain American states, limit the surviving spouse's rights (inheritance) to the deceased spouse's real estate to a life estate. Louisiana, applying civil law, has a similar default provision in intestate successions called a usufruct, which is only over community property and ends with the earlier of death or remarriage.
A marital life estate is, in the common law tradition of the United States and Great Britain, a life estate held by a living spouse (husband or wife) or widowed spouse, for the duration of that spouse's life.