Community Property States vs Common Law States

What was the occupation of the wife in the married couple?

Airline stewardess

What did the husband achieve during the marriage?

M.B.A.

What was the outcome of the couple's divorce?

They did not acquire any marital property

Why is an educational degree not considered marital property?

Because it's intangible and can't be transferred or inherited Signup and view all the answers

In what type of state is the couple's divorce case taking place?

Community property state Signup and view all the answers

What was the wife seeking in the case of Borelli?

Alimony Signup and view all the answers

In a CPS, how does the property acquired by one spouse before marriage or by gift affect the ownership?

It remains separate property Signup and view all the answers

What happens to the property of a deceased spouse in a CPS for federal income tax purposes?

The property receives a stepped-up basis Signup and view all the answers

How can a spouse take a portion of the other spouse's estate in a CPS?

By electing a 50% share Signup and view all the answers

What type of property is A's grandma's gift to A on every birthday?

Specific inter vivos gift to A Signup and view all the answers

What happens to joint tenancy property in the event of divorce or death of one spouse?

It becomes tenancy in common Signup and view all the answers

What happens to the property of a spouse who engages in wrongful behavior leading to forfeiture?

Their portion of the property is affected and the joint tenancy is severed Signup and view all the answers

What happens if B predeceases A as a result of the conveyance?

A becomes subject to the interest. Signup and view all the answers

Under what circumstance is there a partial or temporary severance due to the conveyance?

If A dies before B. Signup and view all the answers

When does a conveyance result in a complete severance of the joint tenancy?

If A dies before B. Signup and view all the answers

What are the conditions that must be satisfied for partition by sale from TIC property?

If part in kind is favored over a part sale. Signup and view all the answers

What happens when a conveyance does not result in a severance of the joint tenancy and B survives A?

B takes subject to the interest. Signup and view all the answers

What does R and RS stand for in the text?

Reasons and Rationale Signup and view all the answers

What is a requirement for a joint tenant to owe rent to another joint tenant?

Agreeing to pay rent in a formal contract Signup and view all the answers

Based on the text, under what circumstance would a fellow joint tenant not be liable to other joint tenants for paying rent?

If there is no agreement to pay rent or proof of ouster Signup and view all the answers

In the scenario described, why did M lack grounds to demand rent payment from S?

Proof of ouster by S was not provided by M Signup and view all the answers

What is the concept described by Snape in relation to joint tenancy and possession?

Possession does not block joint use unless there's proof of ouster Signup and view all the answers

In the case of Sampson leasing part of the walnut orchard from a joint tenant, what was the issue raised by the wife?

The lack of consent from other joint tenants for the lease Signup and view all the answers

What was the general principle presented related to the rights of joint tenants to lease part of the property?

Joint tenants can lease part of the property within their own interest Signup and view all the answers

What are the three forms of multi-party accounts with financial institutions mentioned in the text?

Joint accounts, Joint convenience accounts, and P.O.D. accounts Signup and view all the answers

What distinguishes a true joint tenancy from a joint convenience account?

The intention to gift a portion of the deposit Signup and view all the answers

What does a savings account trust commonly referred to as 'totten trust' involve?

Survivorship rights Signup and view all the answers

What circumstance would likely render a P.O.D. account invalid according to the text?

State statute authorization missing Signup and view all the answers

In what context can the IRS reach the interest of a debtor spouse in tenancy-by-the-entirety property?

In instances of federal tax liens Signup and view all the answers

What was the significance of the SCOTUS ruling in Craft (2002) related to tenants by the entirety?

Confirming federal tax liens on property interests Signup and view all the answers

Community Property States vs Common Law States - Property Ownership Quiz

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