EstatePass
Property OwnershipCommunity Property And Community Property With Right Of SurvivorshipMEDIUM

Teresa and Hector are married and hold their Nevada home as community property with right of survivorship (CPWROS). Teresa unexpectedly passes away. Which of the following statements accurately describes the legal consequences of this event — EXCEPT one? Which statement does NOT accurately describe the outcome under Nevada law?

Correct Answer

C) Hector must record a new deed to re-title the property solely in his name before the survivorship right takes effect.

Option C is the statement that does NOT accurately describe the outcome under Nevada law. The right of survivorship under CPWROS takes effect automatically upon death by operation of law — Hector does not need to record a new deed for the survivorship right itself to vest. While Hector may choose to record an affidavit of survivorship or similar document to clear title in public records, this is a practical step for clarity, not a legal prerequisite for the survivorship right to become effective. Requiring a new deed before survivorship takes effect is a misstatement of Nevada law.

Answer Options
A
Hector automatically receives Teresa's share of the property without going through probate.
B
The entire property receives a stepped-up tax basis to fair market value as of Teresa's date of death.
C
Hector must record a new deed to re-title the property solely in his name before the survivorship right takes effect.
D
The CPWROS designation must have been expressly stated in the original deed for the survivorship right to apply.

Why This Is the Correct Answer

Sign up free to unlock full analysis

Why the Other Options Are Wrong

Sign up free to unlock full analysis

Deep Analysis of This Property Ownership Question

Sign up free to unlock full analysis

Background Knowledge for Property Ownership

Sign up free to unlock full analysis
Sign up free to unlock full analysis

Real World Application in Property Ownership

Sign up free to unlock full analysis

Related Topics & Key Terms

Key Terms:

community_property_with_right_of_survivorshipsurvivorship_rightsstepped_up_basisprobatetitle_vestingnrs_111
Was this explanation helpful?

More Property Ownership Questions

People Also Study

Practice More Questions

Access 2,000+ practice questions and pass your real estate exam.

Start Practicing