Community Property with Right of Survivorship: This is a relatively new form of property ownership (July 2001) in California and it looks like a good bet for most married couples. It provides all the benefits of both community property and joint tenancy.
Community Property derives from the Mexican or Spanish Civil Law, rather than the English Common Law, that most of the laws in the United States come from.
Community Property is loosely defined as any property acquired during a marriage, except from gifts or inheritance. Couples can agree in writing to re-categorize property they own as separate or community as they see fit.
News bits and opinions of Attorney Michael G Perdue. Information in this blog is deemed reliable but not guaranteed. Before taking any action, consult your attorney as your particular circumstances will impact the applicability of the information in this weblog.
