In a Prescott transaction review, during marriage, Tessa inherits a parcel from an aunt and asks whether that inheritance is generally community property. What is the most accurate response?
Correct Answer
B) property acquired by gift, devise, or descent is generally separate property rather than community property
Under A.R.S. § 25-211, property acquired by gift, devise, or descent is generally separate property rather than community property.
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Previous Question
During an Arizona file audit in Yuma County, a husband tells the wife that only he may manage community property because he earns more income. Which statement should the broker communicate?
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In a licensing seminar in Sierra Vista, a creditor assumes that community-debt analysis in Arizona turns only on whose name appears on title. Each of the following statements about community property az is generally accurate in Arizona, EXCEPT.