Beck and Carli are married. Carli purchases a condominium near Downhill Ski Resort. Beck and Carli each technically own an undivided one-half interest in the condo. This is

A) a joint tenancy.
B) fee simple ownership.
C) community property.
D) illegal.

Question

Alexis Bello · Accepted Answer

Final Answer : C, Explanation :  Community property is a form of ownership by spouses during their marriage that they intend to own together. In jurisdictions recognizing community property, any property acquired during the marriage (except for gifts or inheritances) is owned jointly by both spouses and is divided upon divorce, annulment, or death. Given that Beck and Carli are married and Carli purchases a condominium, which they both technically own an undivided one-half interest in, this scenario fits the definition of community property.

Beck and Carli are married. Carli purchases a condominium near Downhill Ski Resort. Beck and Carli each technically own an undivided one-half interest in the condo. This is

A) a joint tenancy.
B) fee simple ownership.
C) community property.
D) illegal.

Definitions

Learning Objectives

Learning Objectives

Related questions

Beck and Carli are married. Carli purchases a condominium near Downhill Ski Resort. Beck and Carli each technically own an undivided one-half interest in the condo. This isA) a joint tenancy.B) fee simple ownership.C) community property.D) illegal.

Definitions

Learning Objectives

Learning Objectives

Related questions

Beck and Carli are married. Carli purchases a condominium near Downhill Ski Resort. Beck and Carli each technically own an undivided one-half interest in the condo. This is

A) a joint tenancy.
B) fee simple ownership.
C) community property.
D) illegal.