James and Linda are a married Nevada couple who have held their Reno home as community property for 15 years. They decide they want to change their title to community property with right of survivorship. Which of the following correctly describes the legal process required to make this change under Nevada law?
Correct Answer
D) They must execute and record a new deed expressly stating the property is held as community property with right of survivorship.
Under NRS 111.064, community property with right of survivorship must be expressly created in a written instrument — specifically a deed that is recorded with the county recorder. To convert their existing standard community property to CPWROS, James and Linda must execute a new deed (such as a grant deed or quitclaim deed) from themselves to themselves, expressly using the language 'community property with right of survivorship,' and record that deed with the appropriate county recorder. The right of survivorship does not arise automatically from marriage or from holding community property for any period of time.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Riparian rights concern properties bordering flowing bodies of water (rivers, streams), while littoral rights concern properties bordering non-flowing bodies of water (lakes, oceans).
The bundle of rights describes the rights associated with property ownership, allowing owners to use, control, enjoy, exclude others from, and dispose of the property.
Community property is a form of ownership recognized in certain states where property acquired during marriage is considered equally owned by both spouses, regardless of who earned the money or whose name is on the title.
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