Under Nevada community property law, all of the following statements about community property with right of survivorship (CPWROS) are TRUE, EXCEPT:
Correct Answer
D) CPWROS is available to any two co-owners in Nevada, including unmarried partners and business associates.
Option D is the EXCEPT answer because it is FALSE. Community property with right of survivorship is available ONLY to married spouses under Nevada law (NRS 111.064). It is a form of marital property ownership that derives from Nevada's community property system, which applies exclusively to legally married couples. Unmarried partners, business associates, or other co-owners cannot hold property as CPWROS. This is a critical distinction from joint tenancy with right of survivorship, which IS available to any co-owners regardless of marital status.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Fee simple absolute is the highest and most complete form of property ownership, giving the owner unrestricted rights to use, possess, enjoy, and dispose of the property. It is of unlimited duration and fully inheritable.
Community property is a system where property acquired during a marriage is owned equally by both spouses.
A freehold estate represents ownership of real property with an indefinite duration.
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