Nicole is a Nevada resident who purchased a condo in Las Vegas before her marriage to Derek. She has always kept the condo titled solely in her name and has paid all expenses from her pre-marital bank account. After five years of marriage, they divorce. Derek claims a community property interest in the condo. Under Nevada law, how should the condo be classified?
Correct Answer
B) Separate property, because Nicole acquired it before marriage and maintained it with separate property funds.
Under NRS 123.130, property owned by a spouse before marriage is that spouse's separate property. The condo was acquired before the marriage, titled only in Nicole's name, and maintained entirely with her pre-marital separate property funds. None of these facts change during the marriage. The length of the marriage does not affect the separate property classification of pre-marital assets, provided the separate property character has been maintained and the funds can be traced. Derek has no community property claim to the condo.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A freehold estate conveys ownership rights, while a leasehold estate grants the right to possess and use property for a specific period without ownership.
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.
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