At Saguaro River Realty in Gilbert, under current Arizona rules, each of the following statements about community property az is generally accurate EXCEPT.
Correct Answer
A) all inherited property automatically becomes community property under current Arizona law
This is the exception. Under A.R.S. § 25-211; A.R.S. § 25-214; A.R.S. § 25-215, Arizona does not treat the issue this way. Instead, property acquired by gift, devise, or descent is generally separate property rather than community property.
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Previous Question
While reviewing a transaction in Maricopa County, a husband tells the wife that only he may manage community property because he earns more income. What is the most accurate response?
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In a licensing seminar in Prescott, during marriage, Sofia inherits a parcel from an aunt and asks whether that inheritance is generally community property. What is the best answer under current Arizona law or current Arizona form practice?