At least as it relates to creditor issues, Community Property is actually pretty easy to understand if you think of it in terms of His, Hers and Ours.
FORBES: Community Property and Creditor-Debtor Law Explained
The downside to this is that Community Property is subject to the claims of the creditors of either spouse, while the Separate Property is subject to only the claims of the spouse who incurred the liability.
FORBES: Community Property and Creditor-Debtor Law Explained
We start with the presumption that all property acquired by either spouse during marriage is community property.
The upside is that the couple can agree between themselves to divvy up the Community Property so that in the future it is held only as Separate Property and thus available to the claims of one set of creditors only.
FORBES: Community Property and Creditor-Debtor Law Explained
The promissory note was acquired by the Zouheils while they were domiciled in Arizona and it is presumptively community property.
Normally, in a community property state like California, the spouse is entitled to one-half of the estate.
When a property is registered as a community asset it cannot be put on the open market for a six-month period.
If, however, you live in a community property state and hold property jointly, at the death of the first spouse the entire property is stepped up in basis--meaning it can be sold immediately without gains tax.
Hence, it is obvious that the concept of community property as a result of marriage does not exist in Morocco or in Syria.
The firm is auctioning the property for BTC Bank, a community bank that took control of the property about a year ago.
Is it because the community members are aggressive in business and owning property in any part of the country?
The 100% owned Rex property is located approximately 130 km east of Hudson Bay and the community of Puvirnituq in Nunavik, Northern Quebec.
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If the investment community is likewise thick then we could get a reasonably liquid secondary market in investment property.
The List of World Heritage in Danger is designed to inform the international community of threats to the outstanding universal values for which a property has been inscribed on the World Heritage List, and to encourage corrective action.
There is also a business consideration in that, for example, a community development district trying to sell property and build houses now faces buyer resistance due to the uncertainty a bond default brings.
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It is the responsibility of the individual or corporation leasing the property held under public trust by the governing body to not only pay the monetary dues unto the community it is operating in, but also support the heritage, culture, and economic sustainability of that community.
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