- How Much Money Is Needed To Invest In Rental Property?
- Should A Real Estate Investor Get An Agent’s License?
- 5 Big Factors That Affect The Costs Of Renovating Your Home
- SIBOR Hike – What You Can Do With Your Current Loan
- 6 Basic Don’ts Of Real Estate Negotiation Tactics
- Will New Condo Relaunches Trigger The Great Property Sale We Have All Been Waiting For?
- 10 Proximity Amenities That Add Value To Real Estate
- How To Get Personal Loans More Easily With Good Credit
Community Property
Community property describes a type of property ownership where the husband and wife have equal shares of the property accumulated by either of them during the marriage.
This means a party can have an interest in property acquired during marriage from actions of either party by virtue of the marital status.
This is often one of the main issues to settle during a divorce.
It is important to recognize when you are dealing with community property as purchasing one such property without proper due diligence can result in future problems with title and ownership.
This is why title companies also often require both signatories to endorse the conveyance.
States that practice community property law include:
- Arizona
- California
- Idaho
- Louisiana
- Nevada
- New Mexico
- Texas
- Washington
Something else to note is that there are key differences between community property and separate property.
0 comments