Kevin and Michelle are married and own a home in Sparks as community property. Kevin uses $30,000 from his personal savings account — which he had before the marriage and has kept entirely separate — to pay down the mortgage principal on the community property home. Kevin later claims a separate property reimbursement credit for his $30,000 contribution. Under Nevada law, is Kevin entitled to this reimbursement?
Correct Answer
B) Yes, Kevin is entitled to reimbursement of his $30,000 from the community property estate upon dissolution or sale.
Under Nevada law (NRS 123.080 and related provisions), when a spouse contributes separate property funds to a community property asset, that spouse may be entitled to reimbursement of the separate property contribution from the community estate upon dissolution of the marriage or sale of the property. This is sometimes called a 'separate property claim' or 'reimbursement right.' Kevin's pre-marital savings account is separate property, and his $30,000 contribution does not become community property simply because it was applied to a community asset. He retains a reimbursement claim, though the community property home itself remains community property.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Real property is immovable land and anything permanently attached to it, while personal property (also called chattels) is movable.
Tenancy by the entirety is a form of co-ownership available only to married couples that includes the right of survivorship and protection from individual creditors. Neither spouse can unilaterally sell or encumber the property.
Tenancy in common is a form of co-ownership in which two or more persons hold separate, undivided interests in property without the right of survivorship. Each owner can hold unequal shares and can independently transfer their interest.
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