In California, which form of co-ownership is available ONLY to married couples or registered domestic partners?
Correct Answer
A) Community property
Community property under California Family Code §760 is a form of ownership exclusively available to married couples and registered domestic partners (under Family Code §297.5). It is based on the principle that property acquired during marriage or domestic partnership with community funds belongs equally to both spouses/partners.
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Rachel holds a life estate in a California beach house, with the remainder to her son, Tyler. Rachel wants to build an addition that would increase the property's value by $200,000. Tyler objects, claiming the construction constitutes waste. Under California law, who is correct?
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Victor and Wendy, a married couple, hold their California home as joint tenants. They later file for divorce. Before the divorce is finalized, Victor dies. Under California law, what happens to Victor's interest?