Property OwnershipCommunity_property_rules_and_spousal_consentMEDIUM
Under Washington law, a married couple can hold title to real property in several different ways. Which of the following forms of ownership is UNIQUE to married couples in Washington and provides both community property tax advantages and automatic survivorship without probate?
Correct Answer
C) Community property with right of survivorship
Community property with right of survivorship (CPWROS) is available only to married couples in Washington and combines two key advantages: (1) the community property tax benefit of a full step-up in cost basis on both halves of the property at the death of either spouse, and (2) automatic transfer of the deceased spouse's interest to the survivor without going through probate. This form of ownership is unique to community property states like Washington.
Answer Options
A
Joint tenancy with right of survivorshipB
Tenancy in commonC
Community property with right of survivorshipD
Tenancy by the entiretyWhy This Is the Correct Answer
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Related Topics & Key Terms
Key Terms:
community_property_with_right_of_survivorshiptenancy_by_entiretyjoint_tenancywashington_specific
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