Term
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Definition
| Property acquired during marriage in which both husband and wife have an undivided one-half interest. Not more than one-half can be disposed of by either party individually by will. There are at present nine community property states for federal tax law purposes: Arizona, California, Idaho, Louisiana, New Mexico, Nevada, Texas, Washington, and Wisconsin. |
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Term
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Definition
| Property that can be demonstrated to be the property of one spouse or the other, especially for community property law states. |
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Term
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Definition
| A voluntary change of the character of property by spouses for community property law purposes. |
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Term
Time of Acquisition Rule
(Inception of Title Rule) |
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Definition
| The rule that provides that the character of an asset, separate or community, is established at the time the asset is acquired and once established, the character is not altered by later events. |
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Term
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Definition
| The mixing together of properties having different characters, such as the community and separate properties of either or both husband and wife in community property jurisdictions. |
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Term
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Definition
| A person who leaves a will in force at death. |
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Term
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Definition
| Community property election for the surviving spouse to defeat the decedent spouse's testamentary disposition of the entire community property interest and thereby make claim to the one-half community property interest to which the surviving spouse is entitled under community property law. |
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